BYD sales crater in Turkey, as government halts import tax exemptions

Turkey has suspended import tax exemptions for BYD.

The government warned the company must repay taxes if it fails to build a promised local factory.

The incentives were reportedly suspended at the start of 2026.

BYD's Turkish sales reached 3,866 vehicles in January.

By May, monthly sales dropped to 152 units.

The company signed an agreement to build a local factory in July 2024.

This facility will have an annual capacity of 150,000 electric and plug-in hybrid vehicles.

BYD reiterated its goal to become the world's largest automaker within five years at its annual shareholder meeting.