Germany: record for electric cars at 34.5% of the market in September

The share of fully electric cars in registrations in Germany reached a record 34.5% in September, driven by the government bonus, according to official figures published on Monday. According to the federal automobile agency KBA, registrations of electric cars almost doubled last month year-on-year, to nearly 88,600 vehicles, representing 34.5% of the market.

This share exceeds the previous record of 33.2%, which dates back to December 2022, a month marked at the time by an influx of registrations before the reduction in public aid for the purchase of electric cars. “The upward trend in the German new car market remains intact thanks to the boom in electric car sales,” analyzes the EY firm in a press release.

In total, new car registrations increased by 9% year-on-year in September, to nearly 257,000 units. The strong increase in electric is explained in particular, according to EY, by the bonus for the purchase of electric and hybrid vehicles reintroduced by the German government at the start of the year. But the EY firm notes that foreign manufacturers, and particularly Chinese ones, “benefit disproportionately” from these subsidies.

A boom captured by Chinese groups

“In September, Chinese groups recorded the strongest growth, with an increase of 80%, bringing their market share to 8.4% – a new record,” he observes. Among them, the registrations of BYD and XPENG, specialists in electric vehicles, jumped by 262.1% and 278.6% respectively over one year. The American Tesla also recorded a surge of 268.7%.

Constantin Gall, from the EY firm, however, warns against repeated changes in public policy in terms of support for electric cars, which according to him create uncertainty for manufacturers. “Bonus granted, bonus removed, new rules: this makes any reliable planning almost impossible” for the latter, he judges.

The electric boom contrasts with the continued decline in thermal engines: registrations of gasoline cars fell by 29.2% year-on-year in September and those of diesel by 20.1%. Far behind in electric mobility compared to Chinese competitors, the German automobile industry is in the midst of a crisis.