Demand for electric cars has increased – combustion engines still at the top
According to the Federal Motor Transport Authority, the majority of new car buyers continue to buy combustion engines: Although the demand for electric cars has increased compared to the same month last year, petrol and diesel engines still account for more than half of the market share.
Dhe electric car still has a difficult time with German car buyers compared to combustion engines, despite significantly higher sales figures. In May, almost 47 percent more were pure battery electric cars approved than in the same month last year, as the Federal Motor Transport Authority (KBA) announced on Monday. This results in a market share of around 17 percent. Gasoline and diesel-powered cars accounted for around 53 percent. Most of the rest is made up of vehicles with hybrid drives.
“Despite the high growth rates for electric cars, we must continue to state that the vast majority of new car buyers choose combustion engines,” commented the car expert at the consulting firm EY, Peter Fuss. There is currently no sign of a real trend reversal towards electric cars. According to the KBA, sales of petrol engines increased by almost 18 percent and four percent for diesel cars.
According to the figures, the city SUVs (SUVs) continued to be in business: They increased by 27 percent compared to the previous year and were the strongest segment with a share of almost 30 percent.
A total of around 247,000 cars were newly registered in May 2023, 19 percent more than in the same month last year. This upward trend should continue, predicts EY expert Fuss. The The lack of chips is losing importance and the delivery situation is easing. In addition, there is a large backlog of orders and a considerable amount of catching up to do in recent years.
“Everything on shares” is the daily stock exchange shot from the WELT business editorial team. Every morning from 5 a.m. with the financial journalists from WELT. For stock market experts and beginners. Subscribe to the podcast at Spotify, Apple Podcast, Amazon Music and Deezer. Or directly by RSS-Feed.