The number of new cars registered increased significantly again last March. The proportion of electrically powered vehicles continues to increase.
The number of purely electric new cars in Germany rose more sharply in March than recently. More than 44,100 battery-electric vehicles came onto the roads last month, as the Federal Motor Transport Authority announced on Wednesday. That was around 28 percent more than in the same month last year. The year-on-year growth was twice as high as in February.
The demand for so-called plug-in hybrids, on the other hand, fell significantly – by almost 39 percent to almost 16,780 new cars compared to March 2022. Experts see the reason above all in the changed subsidy environment. At the end of the year, the subsidy for battery vehicles was reduced and that for plug-in hybrids was phased out completely. Many had therefore struck in December and preferred to buy an electric car.
At the beginning of the year, this “led to a significant dent in the electronics segment,” said Peter Fuss, partner at the consulting firm EY, on Wednesday. “The market share of electrified new cars was just 20 percent in the first quarter of this year, four percentage points lower than in the first quarter of 2022.”
According to the Federal Motor Transport Authority, the number of new cars registered in March rose by around 17 percent compared to the same month last year, totaling 381,361 units. “Nevertheless, the volume of new registrations in the first few months of this year remains well below the long-term average,” said the President of the Association of International Motor Vehicle Manufacturers, Reinhard Zirpel. “The market is supported by a continued high order backlog.” In view of weak incoming orders, the situation could change after the current second quarter.
Source: Stern
