Turkey EV tax hike compounds Tesla's woes after yet another disappointing earnings report
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Tesla's Challenges in Turkey: Tesla faces difficulties in Turkey as the government raises the special consumption tax on electric vehicles from 10% to 25%, significantly increasing the price of its Model Y and potentially dampening demand in a previously strong market.
Impact of Political and Competitive Pressures: Elon Musk's political involvement has negatively affected Tesla's public image, contributing to declining sales amid increased competition from both Chinese and Western automakers, while the company also struggles with an aging model lineup.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
