Germany/automobile: increase in registrations in October but decrease in electric vehicles

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The German car market rebounded slightly in October for the first time since June, but the decline in electric vehicles, triggered by the end of government subsidies, continues according to figures released Tuesday. 

A total of 231,992 cars were registered in Germany in October, 6% more than a year earlier, the Federal Motor Agency (KBA) said in a statement. 

The increase was driven by sales of commercial vehicles, up 10.8%, while new private registrations fell 2.5%. 

With the exception of fully electric cars, down 5%, all other engine types increased: sales of hybrid cars rose 18%, petrol cars rose 3.7% and diesel cars fell 2.5%. 3.7%. 

Electric cars, whose sales have been declining continuously since January, only accounted for 15.3% of new registrations, far behind the 2023 average of over 18%. 

“While the market has progressed, it remains well below the level of October 2019 (-18%) before the crisis,” comments Constantin Gall, from the EY firm. 

Over the year, the expert predicts a 30% drop in new registrations of electric cars compared to the previous year, when government subsidies – stopped in December 2023 – were still supporting demand. 

“There is no prospect of improvement in view given the continuing economic weakness and uncertainties in domestic and foreign policy,” he adds. 

However, he said, electric vehicles could regain momentum in 2025, thanks to stricter European Union CO2 emissions requirements, which could push manufacturers to lower prices. 

In addition, demand for cars is expected to pick up again in 2025, according to a survey of 1,000 people in Germany published in October by EY. 28% of respondents said they would buy a car in the next two years, compared with just 23% last year. 

Overall, the auto sector is under pressure from falling demand in several regions of the world, particularly in Europe and China. As a result, many European equipment manufacturers and car manufacturers have announced social plans in recent months. 

 

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