E-car market 2024
The big losers are Tesla and Opel
The German electric car market fell sharply last year. Some brands were hit particularly hard, including that of US billionaire Elon Musk.
Tesla and Opel in particular suffered in the weakening German electric car market last year. VW, BMW and Mercedes, on the other hand, were able to gain significant market share, as shown by figures from the Federal Motor Transport Authority, which were evaluated by the German Press Agency. Individual manufacturers – including BMW and Skoda – were even able to buck the downward trend and make gains.
The number of new registrations for purely battery-operated electric cars (BEVs) in Germany fell by 27 percent to almost 381,000 in 2024. The decisive factor was probably the elimination of the state purchase premium.
The biggest losers
No other brand has lost electric car sales as much as Tesla. New registrations fell by a good 26,000 to just under 38,000. This corresponded to a market share of 9.9 percent. As a result, Elon Musk’s company slipped from second to third place in the German BEV market. She was still at the top in 2022. Experts recently explained the car manufacturer’s weakness, among other things, with an image problem that also goes back to majority owner Musk and his political commitment. Musk supports future US President Donald Trump.
Opel also lost a lot of ground: from almost 28,000 to less than 8,000 electric vehicles and a market share of just 2.0 percent. When asked, the company explained the slump by saying that small cars like the Corsa Electric suffered much more from the abrupt stop in funding than expensive models that were not previously eligible for funding. In addition, the SUV Grandland was not available as a battery version until a model change. Fiat and Hyundai also lost five figures.
The winners
Some brands were able to buck the downward trend, including BMW. The Munich-based company increased new BEV registrations by a good 1,600 to more than 40,000. That was enough to take second place from Tesla and increase market share by 4.1 points to 11.1. When it comes to electric cars, BMW has recently developed better internationally than its German competitors.
Skoda, Seat, Volvo and Porsche were also able to significantly increase their new registrations and market shares. Volvo achieved the largest increase with a good 5,000 BEVs, although with a total of less than 14,000 cars at a low level.
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And the other major German electric car manufacturers?
Here the picture is mixed. VW can significantly increase its market share from 13.5 to 16.3 percent and consolidate its leading position. However, new registrations fell by 8,500 to 62,000. Because the overall market is shrinking more rapidly, the share is still increasing. Number four, Mercedes, has a similar fate. The market share increases from 7 to 8.9 percent, although new registrations fall by 2,700 to 34,000.
Competitor Audi, on the other hand, has seen a significant decline in new registrations by 8,800 to 22,000. This also causes the market share to fall slightly to 5.7 percent, which means that the Ingolstadt-based company falls to sixth place and behind its sister company Skoda, which improves to 6.6 percent.
For the VW Group as a whole, the picture is also mixed: the market share increases by 7.2 points to 35.4 percent. However, new registrations fell by a total of 13,000 to 135,000.
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Source: Stern
