Germany sees rebound in plug-in car sales in January 2024

Germany sees rebound in plug-in car sales in January 2024

Amidst the dynamic transformation of the automotive landscape, Germany experienced an impressive surge of 19 percent in new passenger car registrations, which soared to a remarkable figure exceeding 213,000 in the month of January 2024, partly thanks to robust sales of plug-in cars. As per available stats, a total of 213,553 new passenger cars were registered last month, in a feat not seen since the month of January in 2020, when total registrations were recorded at 246,300 units.

However, what really steals the spotlight is the resurgence of plug-in electric car sales after four consecutive months of fall in late 2023. In January, the total number of new plug-in electric car registrations jumped to an impressive 36,868, marking a substantial 37 per cent year-over-year growth. This increase elevated the market share to 17.3 per cent, which is significantly greater than 15.1 per cent in January 2023. However, it is slightly lower than 21.6 per cent recorded in January 2022. Notably, the market had previously thrived on strong incentives, a notable driving force that has waned in the past few months.

When we break down the numbers, battery-electric car (BEV) registrations witnessed an impressive 24 per cent year-over-year surge, reaching a total of 22,474 units and grabbing a 10.5 per cent share of the market. Plug-in hybrid vehicle (PHEV) sales also staged a notable comeback, experiencing a 63 per cent year-over-year jump with new registrations amounting to 14,394 units.

For context, in 2023, the western European country registered 699,943 new passenger plug-in electric cars, accounting for roughly 25 per cent of the total volume.

When it comes to models, Mercedes-Benz emerged as a formidable player in this electric resurgence, as it recorded more than 6,000 new registrations, including 2,358 units of all-electric cars. Following closely, luxury car brand BMW secured the second position with almost 4,000 units, while Audi stood at the third spot with a total of 3,518 registrations. Notably, Elon Musk-led Tesla claimed the highest number of registrations in the segment of all-electric cars, with 3,518 units.

Intriguingly, German car brand Volkswagen, despite being the leader in 2023 with 78,427 plug-in registrations, ranked fifth in the month under review with a total of 2,176 units. This shift raises questions about the automaker’s current standing in the fast-evolving electric landscape.

Summing up the dynamics of electric mobility, Germany's remarkable surge in January this year marks a promising start, setting the stage for an electrifying year ahead.

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