Record sales for German electric vehicles: up 50 percent year-on-year

Sales of electric passenger vehicles in Germany rose 50 percent year-on-year in November to a record 102,600 units and an overall market share of 39.4 percent, according to data from the VDA Automotive Industry Association.

The market share increased from 34.4 percent a year ago and 32.5 percent in October, reaching the highest value ever recorded0. Sales of electric vehicles increased 51.2% from the previous month.

Of the volume, 57,980 units were battery EVs, up 44% from a year ago, while 44,580 were plug-in hybrid EVs, up 60%.

As demand for EVs has increased, prices for battery raw materials have risen. Lithium carbonate and lithium hydroxide stood at 76,569 euro/mt CIF North Asia and 80,645 euro/mt CIF North Asia on Dec. 2, up 128% and 160% respectively since the beginning of 2022.

Meanwhile, total new vehicle registrations increased 31 percent year-on-year in November to 260,500 units, up 24.9 percent from the previous month.

Of the monthly total, 171,200 units, or 65.7 percent, were German brands and the remaining 89,300 were foreign brands.

Total new car sales in the first 11 months of the year totaled 2.3 million units, down 2 percent from the previous year, although compared to 2019, a pre-coronavirus year, the decline was 30 percent.

Above all, the lack of primary and intermediate products and high energy and raw material prices continue to have a restraining effect on the market and production.

Of these, 26.8 percent were electric vehicles, totaling 659,200 units in the 10-month period, up 10 percent from the previous year.

About 280,100 vehicles were exported in November, up 26 percent from a year ago and 28.2 percent from October.

In the January-November period, exports increased 11 percent year-on-year to 2.4 million units.

According to the VDA, 385,700 cars were produced in November, up 25 percent year-on-year and the seventh consecutive month of year-on-year increases and a 38.8 percent increase on the month.

In the first 11 months of 2022, 3.2 million passenger vehicles were produced in Germany, up 12 percent year-on-year, the VDA said, adding, however, that the production volume is still at a relatively low level and about 28 percent below pre-COVID 2019 levels.