Introducing the EAFO Series: 2024 EV Registrations in European Markets
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As 2024 draws to a close, the European Alternative Fuels Observatory (EAFO) begins a deep dive into the electric vehicle (EV) market performance across Europe’s major automotive markets. This series will analyze the trends, challenges, and opportunities in individual countries, setting the stage for our upcoming December 2024 and full-year report.
The first feature of the series focuses on Germany, Europe’s largest automotive market, where the EV landscape experienced a year of challenges and evolving dynamics. The findings are based on reports from leading national authorities and stakeholders, providing a comprehensive snapshot of the German EV market in 2024.
Germany: A Transitional Year for EV Registrations
Key Highlights:
- Overall Market: In 2024, 2.8 million passenger cars were registered in Germany, marking a slight 1.0% decline compared to 2023.
- EV Registrations:
- Battery Electric Vehicles (BEVs): 380,609 registrations, a 27.4% decline YoY, representing 13.5% of the market.
- Plug-in Hybrids (PHEVs): 191,905 registrations, showing a 9.2% increase YoY, accounting for 6.8% of the market.
- Combined, plug-in vehicles (BEVs + PHEVs) made up 20.3% of all new car registrations.
- CO₂ Emissions: The drop in BEV registrations led to a 4.2% increase in average CO₂ emissions, now at 119.8 g/km for newly registered cars.
Factors Influencing the Market
- Reduction in Subsidies:The reduction in incentives for BEVs at the start of 2024 significantly impacted demand. The absence of subsidies revealed a drop in consumer interest, particularly in the first half of the year.
- Hybrid Growth:Hybrid vehicles (PHEV included) saw a surge, with 947,398 registrations in 2024 (+12.7% YoY), making up 33.6% of the market. These vehicles, which combine the familiarity of internal combustion engines with electric technology, appealed to a broader consumer base.
- Diesel and Petrol:
- Diesel vehicles accounted for 17.2% of the market (483,261 registrations, -0.7% YoY).
- Petrol vehicles retained the largest share, with 991,948 registrations (+1.4% YoY), representing 35.2% of the market.
Brand Performance in the BEV Segment
- Tesla: Registered 37,574 BEVs in 2024, experiencing a sharp 41% decline YoY.
- MG: Followed with an estimated 20,977 units, though some include hybrids and PHEVs.
- Smart: Delivered 12,463 BEVs, down 28% YoY.
- Emerging brands like BYD, Polestar, and Leapmotor gained small footholds but experienced mixed results amid intense competition and reduced incentives.
Looking Ahead: Germany’s EV Future
While 2024 was a transitional year for Germany’s EV market, stricter EU CO₂ targets in 2025 are expected to reignite growth. Automakers are likely to introduce new models and ramp up BEV production to meet these ambitious requirements. Analysts predict a resurgence similar to the spike seen between 2019 and 2020, as incentives, regulations, and market offerings align to encourage adoption.
Next in the Series
Stay tuned as EAFO continues its analysis of 2024 EV registrations in Europe’s largest markets, including France, the United Kingdom, and the Nordics. Each article will delve into the unique trends shaping these regions, providing a full picture of Europe’s progress toward clean mobility.
Sources:
Don’t miss the regular EAFO update for December and the full year of 2024—coming soon.
Views and opinions expressed are those of the author(s) and do not reflect those of the European Commission.
