Electric Vehicles Drive German Auto Market Recovery
In May, there was a 19% increase in new vehicle registrations in Germany, driven by the high demand for electric cars. According to data from the KBA motor transport authority, the number of new passenger car registrations reached 246,966 during the previous month.
Sales of full-electric cars increased 47%, continuing their bounce back after falling 13% in January when government subsidies for battery-electric cars were significantly reduced. EVs had a 17.3% market share in May.
Gasoline cars are still the biggest sellers in Germany, with sales up 18% for a 35.5% market share. Diesel sales rose 3.6% for a 17.6% share.
The robust sales of electric vehicles indicate a progressive shift towards a more sustainable future in the German market. Nevertheless, concerns persist regarding the inadequate charging infrastructure and the elevated cost associated with electric cars.
The German government is taking steps to address these challenges, such as investing in charging infrastructure and providing subsidies for electric cars. The government is also working to reduce the cost of electric cars by making them more efficient and by increasing the availability of battery cells.