The recent declarations by Volkswagen of wanting to cut the production of electric cars due to a drop in demand, had an alarm bell has been raised on the German battery-powered car market. August, however, went very well with 86,649 registrations, equal to an increase of 170.7% compared to 2022. In the month of September 2023, however, things drastically changed. p>
Despite a substantially stable overall market (-0.1% compared to September 2022 equal to 224,502 units), sales of electric cars have collapsed due to the end of incentives for companies.
INCENTIVE EFFECT
More in detail, in September 2023, 31,714 new electric cars were registered. This is a decrease of 28.6% compared to September 2022 and even 63% compared to August 2023. The market share of electric cars has increased. stood at 14.1%. The stop to incentives for companies has therefore led to a collapse in sales. In the previous months, in fact, in view of this deadline, companies had anticipated the stop of contributions, making multiple purchases.
Indeed, according to the numbers of the authority of KBA transport, the majority of electric vehicle registrations in August went to commercial customers. This makes it clear that in Germany, the sales of BEV models were purely linked to the company channel and the availability of incentives.
Obviously, the next months will be fundamental to understand what will be the future trend of the electric marketin Germany. The September signal is not certainly positive in view of the last quarter of 2023. The year should however close with growth compared to 2022, for the German electric market, due to the of the excellent performance of the last few months but the future appears a little uncertain.
From January 1, 2024 there will be a new remodulation of incentives and therefore people could be pushed to bring forward this deadline, leading to an increase in sales of electric cars towards the end of the year.
We'll see what really happens but, as previously mentioned, the last 3 months of the year will allow us to better understand the trend of the electric market in Germany. However, it seems clear that without adequate contributions, the German battery car market does not yet seem to be able to stand on its own two feet.
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