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Turkish local electric car given tax advantage

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Turkiye’s first local car Togg, which is expected to be on the streets in the first quarter of next year, has been given a head start with a law decreasing the Special Consumption Tax (ÖTV) for electric cars of its class.

Axar.az reports that the tax amount to be collected from electric cars whose engine power does not exceed 160 kW and whose price excluding tax does not exceed 700,000 Turkish liras ($41,000) will be 10 percent, while the tax of those whose price excluding tax exceeds 700,000 liras will be 45 percent, according to the law.

Regarding the cars whose engine power exceeds 160 kW, the ÖTV rate will be 50 percent for those whose price exceeds 750,000 liras ($44,000), and 60 percent for those whose engine power exceeds 750,000 liras.

Considering the new ÖTV rate and the maximum price excluded tax of 700,000 liras, it is estimated that the price of the first C-segment SUV model to be offered by TOGG will be around 908,000 liras ($54,000).

Date
2022.07.02 / 21:58
Author
Axar.az
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