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Germany Sets Record For Registered Electric Vehicles
- By The Financial District
- Nov 6, 2021
- 2 min read
The percentage of EVs among newly registered German cars is at an all-time high, defying current disruptions suffered by the automotive industry, Deutsche Presse-Agentur (dpa) reported.
Photo Insert: EV charging stations in Germany. October saw 54,400 new EV registrations in the country, an increase of 13 percent.
While sales of conventional vehicles have suffered due to supply shortages and long delivery times, EVs are rolling out of dealerships in Germany. The German Association of the Automotive Industry (VDA) says that in October, electric vehicles accounted for 30.4 percent of new vehicle registrations.
“The explanation is relatively simple,” says Germany Trade & Invest automotive expert Stefan DiBitonto.
“Carmakers decide what sort of vehicles they allocate parts like semiconductors to. The profit margins for electric vehicles are currently quite high. That’s because the German state subsidizes the purchase of EVs with up to 6,000 euros. Dealers also offer a 3,000 euro rebate, which is making buyers think that now is the right time to purchase a car. So it makes sense to put semiconductors in EVs. Everyone all around is profiting.”
The numbers bear that out. In October, 178,700 cars were registered in Germany, a monthly decline of 35 percent. There were 54,400 new EV registrations, an increase of 13 percent. And registrations of purely battery-driven cars (BEVs), as opposed to plug-in hybrids (PHEVs), rose by a whopping 32 percent month on month.
It’s a trend that seems certain to continue in the short term. “The examples of China and Norway, as well as the US as far as Tesla is concerned, suggest that if the state purchase premiums continue at this level, sales and registration figures for EVs will flourish,” says Di Bitonto.
“This part of the automotive market is quite resistant to supply shortages because carmakers will continue to use the parts they have to build the vehicles that are the most profitable.”
