Volkswagen overtakes Tesla in the German electric car market - An overview of current developments and market trends2023.

Volkswagen overtakes Tesla in the German electric car market - An overview of current developments and market trends2023.

According to a report from www.finanzen.net, Volkswagen overtook Tesla in the German electric car market last year. The trend shows that Volkswagen will have registered around 70,600 new electric vehicles in 2023, which corresponds to an increase of 11.7 percent compared to the previous year. Tesla, on the other hand, recorded almost 63,700 new registrations, a decrease of 9 percent. Nevertheless, Tesla remained ahead of the most popular electric model with its Model Y and around 45,800 new registrations.

The German car companies, including VW, Mercedes-Benz and BMW, were able to make strong gains in the electric segment. The number of new registrations of electric cars rose by 32 percent in 2023, which is almost three times as strong as the overall market. The market share of German companies in the e-sector increased from 38 percent in 2022 to 46 percent in 2023.

Despite the growth, there is currently little reason to celebrate in the E segment. The prospects for 2024 are rather poor, as customers remain cautious and the majority prefer combustion engines. The abrupt stop in funding for purely electric cars makes the situation even more difficult and leads to a significant decline in buying interest and lower sales figures. It is expected that the market shares of internal combustion engines will grow again in the new year.

The new registration figures and the prospect of increasing market shares for combustion engines can have long-term effects on the market and the financial sector. It could lead to shifts in investors' investment strategy and changes in automakers' stock prices, especially if demand for electric vehicles slows. There is a possibility that automobile manufacturers will invest more in research and development of alternative drives in order to become competitive again. On the other hand, the increasing market shares of combustion engines could lead to increased criticism from environmentalists and politicians, which would have an impact on the reputation of the manufacturers.