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Is Electromarket a giant break-in in Europe?

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Electromarket break-in in Europe

As per a report published by EFahrer.com, Germany has been considered for the first time as the largest electric car market, heading over Scandinavians.

It is estimated that around 56,893 vehicles have been sold in Europe and more than 57 thousand have been registered in Germany from January to November 2019. The number of new electric vehicles registered in November is 4,651 with a sale share of 1.6 percent according to Jato Dynamics.

In 2019, Germany is expected to be registered with over three million new vehicles, it shows that the market for electric vehicle sales is somewhere around 2 percent and the figures are much lower in other European countries resulting in a gloomier situation.

Even then, one of the premium car manufacturers from Germany, Volkswagen holds a pledge to run electric models primarily from the 2030s, thereby renouncing its combustion engines which includes Passat, Tiguan and new models like golf, considered to be one of the bestsellers, occupying the secondary role in the mid-term. It shows a long-term commitment towards the electromobility world irrespective of the consumer market being smaller.

As per a market report from Jato Dynamics company, the intensity was manageable towards the electric car market in Europe till 2018 but with the launch of the Tesla Model 3, the Audi e-Tron, or an electric Mercedes EQC, the situation has changed in electro mobilization world.

Taycan from Porsche got 30,000 pre-orders from Europe but the numbers remain tiny. Some new models which are going to enter the market by 2020 are Opel Corsa-e, an electric Peugeot 208/2008, the Volvo XC40, Ford Mustang Mach-E, Polestar 1 and 2. The plug-in hybrid models are more in demand compare to the normal hybrid cars.

The market share recorded in January for battery-electric vehicles is under 1.2 percent in the five biggest EU markets (Germany, France, Great Britain, Italy, and Spain), hybrids hold 4.4 percent and 0.7 percent for plug-in hybrids. There has been a rise in the market share by 38 percent in all three categories, but then also considered as moderate and not a boom in the market.

Source:- EFahrer

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