More and more motorists are choosing gasoline or diesel vehicles over electric ones, with many former electric vehicle (EV) users switching back to combustion engines. Additionally, a significant portion of Germans say they would only buy an electric car if legally required to do so.
HUK estimates that the growth of electric cars in Germany this year may be slower than in the past four years. According to a representative survey commissioned by the insurance firm, 29% of respondents said they would only consider purchasing an electric vehicle if the law mandated electric-only registrations. Meanwhile, only 18% would opt for an electric car when buying a new vehicle.
The German federal government has set an ambitious target of having 15 million electric vehicles on the road by 2030. However, HUK's analysis suggests that this goal is unlikely to be met, even if drivers interested in electric cars follow through with their purchases.
This assessment aligns with a forecast published in July by Boston Consulting Group and the non-governmental organization Agora Verkehrswende, which predicts that the 2030 electric vehicle target will fall short by six million vehicles if current trends continue.
Decline across Europe
The shift away from electric cars is not limited to Germany. A similar trend is visible across Europe, where consumer interest in electric vehicles has waned in recent months.
A report from the European Automobile Manufacturers’ Association (ACEA) highlighted a sharp drop in electric vehicle market share across the EU, falling from 21% to 14.4% year-on-year in August. This declining interest poses significant challenges to meeting Europe’s long-term electrification goals.
(jh)
Source: IAR, PAP