Demand for electric cars remains high!

Published on: June 3, 2021 / Updated on: June 3, 2021 – Author: Konrad Wolfenstein

Demand for electric cars is rising, production is increasing – Image: Alexander Limbach|Shutterstock.com

Production of electric cars is picking up speed

Roughly one in five cars that rolled off the assembly line in Germany last March was an electric vehicle. As the graphic, based on data from the German Association of the Automotive Industry (VDA), shows, the share of electric cars in total production volume has recently increased significantly. Back in March 2019, it was just 3.3 percent, with around 15,000 electric cars produced. The graphic also shows that overall car production in Germany has recovered considerably after the slump in 2020. However, in March 2021, it was still around 16 percent below the total production volume of March 2019.

One reason for the trend of increasing electric car production is likely the heightened customer demand. Customers are currently benefiting from purchase incentives provided by the federal government and manufacturers. The program is so popular that, according to the Federal Office for Economic Affairs and Export Control, processing applications has repeatedly been delayed. As part of the economic stimulus package implemented in response to the coronavirus crisis, the federal government's share of the environmental bonus was temporarily doubled until the end of 2021. On November 17th, at the "Automotive Summit," a high-level meeting of political and economic leaders, it was decided to extend the so-called innovation bonus until the end of 2025. Demand for electric cars could therefore remain at a high level.

Production of e-cars picks up speed

Around one in five cars that rolled off the production line in Germany last March was an e-car. As the chart based on data from the German Association of the Automotive Industry (VDA) shows, the share of electric cars in production volume has recently increased significantly. As recently as March 2019, it stood at just 3.3 percent, with around 15,000 e-cars. The chart also shows that overall passenger car production in Germany has recovered significantly following the slump in 2020. However, in March 2021, it is still around 16 percent below the total production volume in March 2019.

One reason for the trend of rising e-car production is likely to be increased demand on the customer side. These currently benefit from purchase bonuses granted by the federal government and the manufacturers. The program is so popular that, according to information from the Federal Office of Economics and Export Control, there have been repeated delays in processing applications. As part of the economic stimulus package due to the Corona crisis, the federal share of the environmental bonus was doubled for a limited period until the end of 2021. On Nov. 17, at the “Auto Summit,” a top-level roundtable of politicians and business leaders, it was decided that the so-called innovation bonus would be extended until the end of 2025. Demand for e-cars could therefore remain at a high level.

Electric car production is picking up speed – Image: Statista

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