Germany Making Moves

Germany is making significant progress in the EV realm.  In December 2022, PEVs made up the majority of auto sales in Germany for the first time, with 55.4% of the market. Full EVs made up 33.2% of sales and plugin hybrids made up 22.2%. This compares to 21.3% and 14.4% in December 2021. The Tesla Model 3 was the best-selling car in December with 9,566 registrations. Full-year 2022 saw a 31.4% share of PEVs in the market, up from 26% in 2021. The share of BEVs in the market increased from 13.6% to 17.7% YoY, and is expected to reach 50% in 2026 and close to 90% in 2028. Additionally, the combined share of combustion-only powertrains dipped below one-third of the market for the first time ever.  The growth in plug-in vehicle sales was most likely influenced by a reduction in government incentives for these vehicles starting on January 1st.