Germans purchase record number of EVs in October

Just in time for Giga Berlin to open and the first Tesla cars begin rolling off the production line, Germans are purchasing more electric vehicles (EVs) than ever before.

In the month of October EVs accounted to 30.4% of new vehicle registrations in the country.

A total of 54,400 new EVs were registered in the 31-day period, an increase of 13% compared to the previous month.

The record-setting month was in contrast to overall car registrations, which dropped 35% month-over-month to 178,800 cars, according to data from the German Association of the Automotive Industry (VDA).

Tesla registrations in Germany rise 158% in September as overall registrations plunge 26%

The increase in EV sales in Germany can be attributed to a few reasons, including attractive incentives and automakers prioritizing EV production due to higher margins.

“The explanation is relatively simple,” says Germany Trade & Invest automotive expert Stefan Di Bitonto. “Carmakers decide what sort of vehicles they allocate parts like semiconductors to. The profit margins for electric vehicles are currently quite high. That’s because the German state subsidizes the purchase of EVs with up to EUR 6000. Additionally dealers offer a EUR 3000 rebate, which is making buyers think that now is the right time to purchase a car. So it makes sense to put semiconductors in EVs. Everyone all around is profiting.”

Figures for October are not a flash in the pan, but the continuation of a trend that began as early as 2019. Data from the German government agency KBA showed the number of EV registrations tripled from 63,281 to 194,163, from 2019 to 2020.

That 2020 figure will pale in comparison to what is expected to be another record year this year. In the first five months of 2021 alone, Germany saw 115,296 EVs registered.

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