In August, the German car market declined by 27.8% compared to the same month last year, mainly due to the sharp drop of more than 68% recorded by electric vehicles.
The German car market fell again in August, weighed down by the collapse in sales of electric cars. A second consecutive month of decline after a 2.1% drop recorded in July.
A total of 197,322 cars were registered in Germany in August, 27.8 percent fewer than a year earlier, the Federal Automobile Agency (KBA) said in a statement on Wednesday.
The electric car market plunged by 68.8% to 27,024 units and a market share of 13.7%. The end of purchase subsidies since January 1st has led to a dramatic drop in sales of electric cars in Germany.
A balanced market for all engines combined
Still in August, other engines show a more limited decline: -1.5% for light and non-rechargeable hybrids, -6.8% for rechargeable hybrids and -7.4% for gasoline. Only diesel also shows a double-digit decline, -24.4%, but with a market share of 15.2% last month. In France, diesel registrations since the beginning of the year now represent only 7.8% of the market.
Despite this context on the electric, the German market remains almost balanced: from January to August, registrations of new cars show a decline of only 0.3%, to 1.907 million units.
In difficulty, Volkswagen mentioned this week potential factory closures in GermanyVolkswagen CEO Oliver Blume cited “the difficult economic environment, increased competition in Europe and the declining competitiveness of the German economy” as reasons for the decision. This acceleration of the cost reduction policy announced at the beginning of August.
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