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06-06-2024 | Electric Vehicles | Infographic | Article

These Electric Car Models are the Most Popular

Author: Christiane Köllner

1:30 min reading time

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The Tesla Model Y is currently the most popular electric car model in Germany. It is followed at a considerable distance by German manufacturers.

The Tesla Model Y is currently (as of April 2024) the most popular passenger car model with electric drive (BEV) in Germany in terms of the number of new registrations, as a Statista graphic based on data from the Federal Motor Transport Authority shows. With around 12,100 new registrations, the US manufacturer's model was well ahead of VW's ID.4/ID.5, with around 7,400 units sold. 

The e-car market in Germany slumped at the beginning of the year. According to Statista, the e-car share of new car registrations in February and March was below the previous year's figures. In the first quarter of 2024, around 13,400 fewer e-cars were sold than in the same period last year. Statista cites the discontinuation of state subsidies as the main reason for customers' reluctance.

E-Cars put pressure on Car Manufacturers' Profits

According to a study, the weak sales of electric vehicles at the start of the year also put pressure on the profits of international car manufacturers, as reported by dpa. For ten selected companies, quarterly earnings before interest and taxes (EBIT) fell to an average of 7.1% of sales, according to a study by the Center of Automotive Management (CAM) research institute. In the previous three years, this operating margin had averaged 8.3% to 8.4%. The average profit (EBIT) per car fell by 19% to 2,253 euros.

In addition to the difficult market ramp-up for electric vehicles, high interest rates and geopolitical uncertainties also made business more difficult. A year earlier, manufacturers had still been able to afford to produce mainly higher-priced and high-margin vehicles, while demand had increasingly normalized in 2024.

German premium manufacturers BMW and Mercedes-Benz continue to be the most profitable, with margins of 11.1% and 10.8% respectively. The best volume manufacturer was Toyota with an operating margin of 10.0%. Volkswagen only achieved 6.1%, just ahead of Hyundai (5.8%) and Honda (5.6%). The electric specialists Tesla (5.5%) and BYD (4.6%) earned below average due to the tough price war in their sector. The highly profitable Stellantis Group did not report any quarterly figures.

This is a partly automated translation of this german article.

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