In the ever-evolving landscape of the automotive industry, Germany‘s electric car market is taking center stage with impressive growth figures in 2023. The first half of the year saw a substantial 12.8 percent year-over-year increase in new passenger car registrations, with June alone recording a remarkable 25 percent surge to 280,139 new registrations.
Volkswagen has been the frontrunner in the Electric Car segment in Germany
One of the most significant contributors to this growth is the plug-in electric car segment, which is expanding rapidly. However, the market is witnessing a clear division between Battery Electric Vehicles (BEVs) and Plug-in Hybrid Electric Vehicles (PHEVs).
c The BEVs, in particular, are leading the charge, experiencing an impressive 64 percent surge with 52,988 new registrations, capturing a solid 18.9 percent market share. Meanwhile, PHEVs faced a downturn, dropping 39 percent to 15,930 units, and securing a 5.7 percent market share.
Looking at the cumulative registrations for the year so far, BEVs recorded 220,244 units, representing a significant 32 percent year-over-year growth and 15.8 percent market share. However, PHEVs faced a sharp 43 percent decline, with 79,065 units registered, resulting in a similar 5.7 percent market share. A notable policy shift in 2023 affected the PHEV market as they are no longer eligible for incentives, impacting their sales and market appeal.
Volkswagen emerged as the frontrunner in the plug-in electric car segment and the BEV category, closely followed by Tesla. Meanwhile, Mercedes-Benz maintained its lead in the PHEV category.
The best-selling electric car model in June and year-to-date was the Tesla Model Y, with 6,098 new registrations in June and a total of 27,825 registrations so far. The Volkswagen ID.4/ID.5 duo performed well in June but lagged behind in the year-to-date rankings. As the industry embraces this shift, electric vehicles are all set to dominate the future of transportation in the country and beyond. It’s just a matter of how quickly this revolution takes over.
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(Via)
