Germany’s plug-in car sales jump 20% to 63,027 units in July 2023
The plug-in electric car segment of German automobile market continued to expand at a significant rate in July this year, which enabled it to outshine the overall general market in terms of growth.
While the general car market (new car registrations) grew 18 per cent year-over-year to 243,277 units in July 2023, the total new plug-in electric car registrations jumped 20 per cent to settle at 63,027 units. The plug-in segment accounted for 25.9 per cent of the total volume, marginally up from July 2023.
It is even more interesting to note here that the plug-in electric car segment continued to grow just because of the robust growth in the sub-segment of battery electric cars (BEVs). BEV sales increased at a really impressive rate of 70 per cent year-over-year, while sales of plug-in hybrid vehicles (PHEVs) continued to decline.
Registrations of all-electric cars amounted to 48,682, up 69 per cent year-over-year. It was enough to allow the BEV segment to capture 20 per cent of the market, considerably up from 14 per cent a year ago. That's BEV’s highest market share so far this year.
Registrations of PHEVs, on the other hand, continued to fall. In July, PHEV registrations fell for the seventh month in a row, which dragged down the overall plug-in segment. It is important to note here that PHEV sales aren’t supported by the nay sort of incentives from the side of the government. Almost all market analysts are of the view that unavailability of tax incentives is the main reason behind PHEVs’ considerable sales drop.
Year-to-date registrations include 268,926 units of BEVs (up 37 per cent at 16.4 per cent market share) and 93,410 units of PHEVs (down 43 per cent at 5.7 per cent market share). Total YTD sales settled at 362,336 units, up 1 per cent at 22.1 per cent market share.
When it comes to top brands in July, three German brands, viz. Volkswagen, Mercedes-Benz and BMW, accounted for the highest number of new plug-in car registrations.
Volkswagen (VW) got 7504 units (including 7061 BEVs and 443 PHEVs) registered, while Mercedes-Benz and BMW accounted for 6961 units (3700 BEVs and 3261 PHEVs) and 5177 units (3142 BEVs and 2035 PHEVs), respectively. The top-five list was rounded out by Tesla and Hyundai, which accounted for registrations of 3905 (all BEVs) and 3767 units (3314 BEVs and 453 PHEVs), respectively.