Berlin - Electric vehicle sales in Germany experienced a sharp decline in 2024, falling 27% compared to the previous year. This significant drop follows the abrupt cancellation of government subsidies at the end of 2023, according to official figures released by the Federal Motor Transport Authority (KBA) on Monday.

Only around 380,600 electric cars were newly registered throughout the year, representing a 13.5% market share, down from 18.4% in 2023. This substantial decrease highlights the significant impact of the subsidy removal on consumer confidence.

"The abrupt end of the state subsidy at the end of 2023 has led to massive uncertainty among potential buyers, which continues to this day," stated Constantin Gall from consulting firm EY. He further emphasized that despite the introduction of new and appealing models, sales figures remain significantly lower than industry expectations and government targets.

Overall, the German automotive market saw a slight decline in 2024, with approximately 2.8 million new cars registered, representing a 1% decrease compared to the previous year. This figure is also notably lower than the pre-pandemic level of 2019, with a 25% decrease observed.

December 2024 witnessed a further slowdown in sales, with new registrations falling more than 7% below the same month in 2023.

[ⓒ Global Economic Times. 무단전재-재배포 금지]