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Turkey’s Automotive Market Reaches Record Highs In 2025 Amid Electric Revolution

Record Sales Driven by Economic Dynamics

Turkey’s automotive industry achieved unprecedented success in 2025, with sales reaching an all-time high of 1.37 million units. Despite the challenges of high taxes and stringent financing conditions, the market expanded by 10.5 percent compared to previous years. Industry experts point to the nation’s large population, evolving mobility needs, and an aging vehicle fleet as key drivers of this significant growth.

Electric And Hybrid Vehicles Lead The Charge

One of the most striking aspects of this surge was the robust performance of electric and hybrid vehicles. Fully electric car sales surged by 90 percent, reaching approximately 190,000 units and capturing a 17 percent share of the passenger car market. Meanwhile, hybrid models experienced a 63 percent increase, selling around 295,000 units and securing a 27 percent market share. These figures not only highlight a shift in consumer preferences but also reflect a broader commitment to sustainable automotive technologies.

Continued Growth And Future Prospects

The industry’s optimistic outlook remains intact as sales in 2026 are expected to maintain current levels, with projections suggesting potential volumes of 1.5 million units or more in the near future. Notably, while overall passenger car sales reached 1.1 million units—a record high—light commercial vehicle sales also hit a milestone with a 10 percent increase to 283,904 units. These developments underscore the resilience and dynamic evolution of Turkey’s automotive sector.

Conclusion

Turkey’s automotive landscape is undergoing a transformative phase, marked by record-breaking sales and a decisive shift towards electric and hybrid vehicles. Such trends not only signal the changing consumer ethos but also set the stage for continued innovation and growth in the regional market.

Eurobank Wins Two Euromoney Awards Following Cyprus Merger

Eurobank has been named Cyprus’ Best Bank for 2026 by Euromoney, while also receiving the award for Best Bank for Large Corporates at the publication’s latest Awards for Excellence.

Merger Marks A Milestone

The awards recognise the bank’s performance during 2025, a year marked by the completion of the legal merger between Hellenic Bank and Eurobank Cyprus. The transaction created Eurobank Limited, which the group says is now Cyprus’ largest banking and insurance organisation, with assets exceeding €28 billion.

Euromoney’s Awards for Excellence evaluate banks’ performance over the previous calendar year, with this edition covering January 1 to December 31, 2025.

Lending, Customers And Digital Growth

Eurobank said its business lending portfolio expanded by around 17 per cent during 2025, while its customer base grew to more than 710,000 retail clients and 11,500 business customers.

The bank also continued its digital expansion, saying more than 96 per cent of transactions are now completed through digital channels, and most financing applications are submitted via its mobile app.

Expanding International Presence

Eurobank also highlighted the opening of its first representative office in India, describing the move as a step toward strengthening business links between Cyprus and India while supporting Cyprus’ role as a gateway to the European Union for Indian businesses and investors.

According to the bank, Euromoney recognised not only the successful completion of the merger but also its lending growth, digital transformation and contribution to Cyprus’ position as an international business and investment hub.

CEO On The Awards

“The Euromoney awards confirm Eurobank’s strong momentum and the successful implementation of our group’s strategy in Cyprus,” Chief Executive Michalis Louis said.

He said the merger strengthened the bank’s ability to support households, businesses and the wider economy, while highlighting continued investment in digital services and the opening of the representative office in India as key milestones during the year.

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