China and the United States slow growth

Finance – lose growth: the two largest electromobility markets are weakening and leading by far the number of new registrations in the world.

The weakness of new registrations in the United States and China has almost halted the global boom in electromobility. According to the Stuttgart Center for Solar Energy and Hydrogen Research Baden-Württemberg (ZSW), 2.3 million new registrations of electric cars with batteries or fuel cells as well as plug-in hybrids in 2019 do not represent that 4% more than the previous year. In 2018, new registrations of cars and light commercial vehicles equipped with these propulsion technologies increased by 74%.

According to ZSW, the deciding factor for emergency braking is that the two most important markets, China and the United States, reduce subsidies for battery-electric vehicles. China, which is responsible for more than half of new registrations of electric and plug-in hybrid cars, subsequently fell 4%. In the United States, which represents another seventh of the world market, new registrations with these discs have even fallen by 9%.

Comparison of new electric registrations

These declines mask the fact that new electric vehicle registrations continue to grow strongly in most other relevant markets. Germany registered an increase of 61 percent to 108,600, placing the Federal Republic in third place behind Norway.

In Norway, new registrations increased by 18%, but electric cars and plug-in hybrids now account for 57% of new registrations, so there are limits to growth. In Germany, the share was 3% in 2019, 5% in China and 2% in the United States.

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Even though the growth in new registrations has collapsed, the global inventory of electric and plug-in hybrid cars continues to grow strongly, as the technology has only been available in large numbers for a few years. 7.9 million electric and plug-in hybrid cars on the streets represent a 44% increase.

“Although the growth rate of new electric vehicle registrations in Germany is relatively high, the market is still too low,” said Frithjof Staiß, member of the board of directors of ZSW.

Tesla ahead of BMW and VW

At the brand level, Tesla is clearly ahead of new listings added since 2010 and new listings 2019. Here, ZSW assessed the top 18 markets, which accounted for 95% of the market last year. In new registrations last year, the American brand has 361,000 vehicles ahead of the Chinese brands BYD, BAIC and SAIC with 219,000, 158,000 and 126,000 registrations. German brands BMW and VW followed in fifth and sixth places with 115,000 and 93,000.

The best-selling electric car last year was Tesla’s Model 3, which has now been registered 445,000 times in total across the 18 markets assessed. It replaces the longtime number one Nissan Leaf. With new registrations in 2019, the Model 3 is clearly ahead with 297,000. The best model from a German manufacturer is the BMW 5 Series plug-in hybrid with sixty new registrations in 2019 in sixth place.

“The figures show that, despite individual successes, German manufacturers need to do more to keep up with world leaders,” says Staiß. “Commercial success of the announced E models is essential for the German automotive industry.”

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In Germany, the financing of electromobility has just been extended. There is now up to 3,000 euros from the state plus an at least equally high discount from the manufacturer.

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