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Crisis in the German car market: electric cars are hardly bringing any upswing!
Despite a 12.8% increase in new registrations in September, the German car market continues to show uncertainty, particularly in the area of electric vehicles.
Crisis in the German car market: electric cars are hardly bringing any upswing!
Things have been quite turbulent in the German car market in the last few months. The latest figures show that, despite a certain upswing, the market is still far from stable. Loud Vinci Autoroutes New registrations rose by 12.8% in September, particularly thanks to booming demand for electric vehicles. Nevertheless, the market remains characterized by uncertainty, which is also reflected in the rather tense mood of consumers and companies.
A total of 235,528 new vehicles were registered in September, and that's an encouraging 45,495 new registrations of electric cars, representing an impressive increase of 31.9% compared to the previous year. This means that electric vehicles account for 19.3% of the total market, like that Figaro reported. However, it is important to note that the overall market performance since January has only recorded a minimal decline of 0.3%, showing that the market has not yet returned to its 2023 highs - characterized by attractive subsidies for electric vehicles.
Uncertainties in the market and political discussions
Expert Constantin Gall from EY warns that this upswing does not necessarily indicate a sustainable trend. Overall consumer sentiment and economic conditions remain worrying. In this context, Finance Minister Lars Klingbeil's call to extend the tax relief for electric vehicles until 2035 is also important. This discussion will soon be addressed at a summit in Berlin, where Chancellor Friedrich Merz and representatives of the automotive industry will also be present.
The signs of a crisis in the German automotive industry are obvious. While BYD, a Chinese manufacturer, increased its sales figures 23-fold and sold 3,255 units, overall demand remains below expectations. In addition, established brands such as Porsche have announced that they will delay production and cut jobs, while ZF and Bosch will also make major job cuts.
The future of electromobility
Where is electromobility heading in Germany? Despite the rising numbers, the reality is that hybrid models continue to lead the market, with new registrations up 28.9% in September. In addition, traditional manufacturers have to assert themselves against pressure from Asia, where competition is becoming ever stronger.
A look at the distribution shows that gasoline engines have a market share of 26.8% despite a decline in new registrations. All of these developments make it clear that there is still a lot of work to do in the German car market and that the coming weeks could be crucial for the industry.