The number of electric cars worldwide rises to nearly 42 million

Worldwide, 14.8 million cars – battery electric vehicles, plug-in hybrids, and cars with range extenders – were newly registered in 2023. This was determined by the Center for Solar Energy and Hydrogen Research Baden-Württemberg (ZSW). China is clearly in the lead with over 9 million units, with the USA securing second place ahead of Germany. In this country, the number of new registrations of electric cars last year was almost 700,000. As a result, 2.33 million electric cars are now on German roads. However, this development is insufficient to reach the target of 15 million electric vehicles in 2030 set by the federal government. To achieve the target, annual new registrations would have to increase to double or triple the current level.

42 million electric cars worldwide

The global stock of electric cars at the end of 2023 amounts to just under 42 million units. More than half of these are registered in China, with the USA in second place with 4.8 million electric cars, ahead of Germany in third place. The highest growth rates in stock, excluding the Chinese market, were achieved by smaller markets such as Belgium with 71% and 192,400 vehicles, or Portugal with 54% (65,000).

Regarding new registrations, the EU forms the second largest market in the world behind China. Around 2.5 million electric cars were newly registered here in 2023, with the USA in third place with 1.5 million vehicles. Electric cars continue to achieve the highest share of the total vehicle market in Norway: Four out of five new vehicles here are battery electric.

Germany: Dynamics losing momentum

In Germany, however, the dynamics are losing momentum significantly: After an increase of 22% in 2022 compared to 2021, new registrations fell by 16% last year. This development is influenced by several factors: on the one hand, the sales figures for plug-in hybrids have fallen sharply due to the expiration of government subsidies on December 31, 2022. However, this decline could not be fully compensated by an eleven percent growth in purely battery-electric cars. The higher acquisition costs for electric vehicles remain a frequently cited criticism. The relatively weak overall economic development in Germany has also likely had a dampening effect on the development of electromobility, as have falling fossil fuel prices following the high-price phase in 2022.

Andreas Püttner from ZSW: "Given strict austerity measures for public budgets, the impetus can particularly come through the elimination of privileges for conventional vehicles – also known as climate-damaging subsidies. For example, by eliminating tax breaks for fossil diesel fuels, the so-called diesel privilege, as well as abolishing the so-called company car privilege for vehicles with conventional drives or exclusively promoting electrically powered company cars, one could come significantly closer to a 'level playing field' with equal conditions for combustion engines and electric cars."