In recent years, Germany has experienced a significant increase in the adoption of Battery Electric Vehicles (BEVs), marking a key transition in the country’s automotive sector. By analyzing data from the German Kraftfahrt-Bundesamt (KBA), this post examines quarterly trends in BEV sales and provides a snapshot of the evolving market.
Current Market Trends
As of July 1, 2024, BEVs represent 3.1% of all cars in Germany, a notable rise from just 0.2% on January 1, 2019. Despite this progress, sales growth has shown signs of deceleration in recent months. A polynomial extrapolation of the current data projects a BEV market share of 3.86% by the end of 2024. However, this estimate appears optimistic given the recent slowdown in electric vehicle (EV) sales.
Data Source: German Kraftfahrt-Bundesamt (KBA)
New BEV Sales in 2024
From January 1 to September 30, 2024, 13.1% of newly sold vehicles in Germany were BEVs, which represents a 1% decrease compared to the same period in 2023. This drop reflects the ongoing challenges faced by the EV market, despite overall growth in the BEV stock.
Data Source: German Kraftfahrt-Bundesamt (KBA)
Conclusion
While the long-term trend toward electrification is clear, the recent slowdown in BEV sales suggests that achieving projected market shares may take longer than anticipated. Understanding these dynamics is crucial for stakeholders aiming to navigate Germany's evolving automotive landscape.
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"the long-term trend toward electrification" is not at all clear. There was extreme propaganda about it, and some companies feel a pressure to switch their car fleets to electric, but this hype is not sustainable and started to crumble. Electric power prices go up and the second hand market for such cars is desastrous, just 2 reasons for it.
The companies should feel the pressure from the market, not from regulators who talk about making ICE cars illegal. That doesn't help at all.
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