Car sales in Germany increased significantly in July. The greatest growth is again in e-cars, which achieve a market share of 20 percent. But the “electric boom” could end soon.
The number of newly registered cars in Germany increased significantly in July. As the Federal Motor Transport Authority (KBA) announced today, a good 243,000 passenger cars were newly registered last month – 18.1 percent more than a year earlier.
Commercial registrations accounted for the majority, increasing by almost 25 percent. Private registrations climbed 5.5 percent.
Electric cars on the rise
As in the previous months, a particularly strong increase in e-cars was observed in July. Almost 49,000 new electric vehicles were registered, almost 69 percent more than in July 2022.
According to the KBA, e-cars accounted for 20 percent of all registrations. That was 1.1 percentage points more than in June, which was already strong. Hybrid cars, in which an electric motor and a combustion engine share the work, also increased. At 12.5 percent, however, the increase was not that high.
End of electric boom expected
However, the consulting firm EY expects the electric boom to end “very soon”. The reason for this is the impending end of state subsidies for commercial purchases of electric cars from September 1st.
The strong growth in e-cars is likely to be due to commercial owners who “still want to benefit from state subsidies”. A “significant dent” can then be expected from September.
Gasoline engines continue to dominate the market
Gasoline engines again had the largest share of new registrations, rising by 12.5 percent to 83,358 units compared to the same month last year. More than a third of car buyers opted for a new car with this type of drive.
In the case of diesel passenger cars, there was an increase of 2.7 percent to more than 42,000 vehicles. At 17.5 percent, their share was significantly lower than in the years before the diesel crisis, when diesels still accounted for half of new registrations. Across all drives, 1.64 million new cars were registered in July, an increase of 13.6 percent.