More and more electric cars in Austria

More and more electric cars in Austria

According to the “Electric Vehicle Sales Review” by PwC Autofacts and Strategy&, which records new registration figures in 20 selected markets worldwide, 20% more BEVs were registered in Austria than in the same quarter of the previous year. Battery cars thus achieved a market share of 19%, which corresponds to an increase of 45 percentage points compared to the previous year. According to PwC, the worldwide BEV triumph is expected to continue in the coming year. The study predicts BEV growth of 27% for the USA, an increase of 34% for China, and an increase of 43% for the five European core markets of Germany, France, Italy, Spain and the UK. While Europe takes the lead, a north-south divide is emerging within the continent. BEVs in Austria, Germany, France and the UK have now broken through the 16% market share barrier, which is considered a barrier to entry into the mainstream market. Spain (6%) and Italy (4%), on the other hand, remain in single-digit BEV market penetration, which endangers both their respective national climate goals and those of the entire EU.

"Despite regionally varying speeds, the transformation of the automotive industry is continuing at a rapid pace. German manufacturers in particular have accepted the challenge - after a discovery phase - and are coming back with courageous and technically excellent models," says Günther Reiter, Automotive Leader at PwC Austria, and continues: "In order to shorten the gap to the market leaders from China and the USA, they must continue to expand the range of models that are competitive in terms of price and technology. To do this, the manufacturers must improve the supply chain - and thus the Control costs even more closely than before.”

In the fight for market share, plug-in hybrids (PHEV) could again play a stronger role, at least in the medium term. The bridge technology celebrated a comeback in five core markets in the third quarter of this year - and outperformed pure electric vehicles in France, Italy, the UK, China and the USA in terms of growth rates. This development was particularly evident in China, which is by far the largest e-mobility market. PHEV registrations rose by 71% compared to the same quarter last year, while BEV sales only increased by 16%. The main reason for the second spring of PHEVs in China is the wide range of products at attractive prices. PHEVs also continue to be in high demand in Austria. This is also due to the fact that there is no NoVA for purchasing a PHEV, but also due to the discussion about the end of state subsidies for PHEVs from 2024. From January to September, 7% of newly registered vehicles were PHEVs, which corresponds to an increase of 39% compared to the previous year.

Chinese market leaders are currently demonstrating how they can set themselves apart from the market, especially in the lower and middle segments, with new lithium iron phosphate (LFP) batteries that are inexpensive, cold-resistant and quick to charge. “European manufacturers still have little to counter this because they have so far relied primarily on more powerful but also more expensive batteries for the middle and upper segment,” says Johannes Schneider, partner at Strategy& Austria. “In order to be able to compete in all segments in the future, they must also invest in their own LFP development and production.” The challenge for European OEMs is not only to catch up with their competitors as quickly as possible, but also to overtake them in the foreseeable future.