Sales of electric cars in Germany are going through a rough patch, especially for those powered entirely by battery (BEVs).
New car registrations in Germany dipped by 6.2% in March 2024 compared to the same month last year. Sales of plug-in electric cars, which include both battery electric (BEV) and hybrid electric vehicles (PHEV), were down a steeper 22% in March compared to last year. This slump follows the expiration of a tax incentive for BEVs in 2023.
Among electric cars, BEVs are faring worse than PHEVs. BEV sales specifically dropped by a concerning 29% year-over-year in March. As a result of the sales decline, the market share of electric cars in Germany has shrunk from 21.6% a year ago to 18.0% in March 2024.
This means only 31,384 new BEVs were registered in Germany. As a result, their market share shrank from 15.7% to just 11.9%. Plug-in hybrid electric vehicles (PHEVs), which use a combination of battery power and gas, saw a smaller decline of about 5% year-over-year. Still, only 16,016 PHEVs were registered in March, and their market share dipped to 6.1%.
Combining BEVs and PHEVs, total plug-in car sales in Germany decreased by 22% in March compared to last year. This translates to 47,400 new plug-in cars registered and an overall market share of 18%, which is down from 21.6% a year ago.
