Dataforce sees "Electric Shock" in the private market

In March 2024, new passenger car registrations in Germany decreased by 6.2 percent. However, there were also three fewer working days available compared to March 2023. When taking this calendar effect into account, new registrations remain slightly positive at 2.0 percent. In the current month of April, this picture will then reverse, as there are 3 additional working days available.

Fleet and private sectors suffer disproportionately

A look into the individual market segments reveals disproportionate declines in the relevant fleet market (-12.5%), the private market (-9.4%), and vehicle manufacturing (-14.5%). All three segments also developed negatively when adjusted for working days. This shows that the increased backlog of orders has largely been processed, and manufacturers and dealers now need to collect new orders. Considering the strained economic situation and the uncertainty of potential car buyers, this is no easy task. However, there were increases in dealer self-registrations and in the car rental segment. Thus, the weakness in demand continues to be compensated by tactical registrations.
 

Private electric registrations have almost halved

The significant decline in registrations of battery-electric vehicles (BEVs) by 29 percent was already reported last week. A closer look at the market segments now reveals that this decline is mainly due to private buyers: BEV registrations in the private market dropped dramatically by 42 percent. In comparison, the fleet market recorded "only" a 26 percent decline. Vehicle manufacturers responded by increasing their own registrations by 55 percent.

Plug-in hybrids not an alternative

With regard to the preferred drive type of private individuals, it appears that plug-in hybrids are also not an attractive alternative, with a decline of 34 percent. Registrations of private gasoline cars, including those with starter generators, remained stable. Full hybrids, on the other hand, experienced growth: the non-plug-in part-time electrics saw a 30 percent increase in the private market and their market share rose to 6 percent for the first time.