New car market: Electric boom in the new registrations stops

The electric boom at the new cars in Germany continued in May. More than 43,000 new vehicles with battery drives came to the streets last month, as the Federal Motor Transport Authority announced. That was almost 45 percent more than in the previous year. With a share of 18 percent in all new registrations, almost every fifth new car drove electrically.

“On the one hand, the previous year in Germany was very weak – this is currently contributing to the high growth rates on paper,” said Constantin Gall from the consulting company EY on the grounds. “Above all, many manufacturers have significantly reduced the price difference between combustion and comparable electric cars.” They also offer very attractive financing and leasing options. In addition, there would be tax breaks for electrical company cars, which made a particularly high proportion of new registrations.BYD now more than Tesla The US electric car maker Tesla continues to benefit from the rapidly increasing demand. Only around 1,200 Tesla came to the streets in May, as can be seen from the KBA numbers. That was again more than a third less than in the same month.

The US group has now been outdated in Germany by the Chinese competitor BYD. Its electric vehicles increased by more than 800 percent to almost 1,860 units in May.

Overall, the new car market in Germany continues to remain at a low level. According to the KBA, a total of almost 239,300 cars were re -registered in May. That was 1.2 percent more than in May of the previous year, but remains significantly behind the numbers of the pre-corona years. In addition to high new car prices, the market and investment restraint with the companies continued to say the market, Gall from EY continued.