New registrations: Electric car boom thanks to premium - Chinese manufacturers benefit
The demand for electric cars surged in July. According to experts, this is due to federal funding. Above all, Chinese manufacturers have increased their numbers.
Berlin -- July saw a significant surge in the sale of electric cars in Germany, largely thanks to the federal government's E-Auto premium. Over 78,600 pure electric passenger vehicles (BEV) entered the roads that month, according to the German Federal Motor Transportation Authority (KBA). That represented a 62% increase from July of the previous year.
Consequently, BEV accounted for 29.3% of all new vehicle sales in July. While the strong growth in electric cars is accelerating the adoption of electromobility in Germany, it is currently only providing limited benefits to the domestic automotive industry, according to automotive expert Constantin Gall from the consulting firm EY.
He noted that the main beneficiaries of the electric vehicle boom are Chinese corporations. Indeed, BYD, a Chinese manufacturer, sold 5,240 new cars in Germany in July, which is over four and a half times more than in July of the previous year (a 365% increase). The high demand for electric vehicles has also boosted the overall new vehicle market.
The number of new registrations rose by 1.2% compared to the same month last year to around 268,000 passenger cars in July.
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