Report: Electric car market picks up speed considerably, esp in Europe

International Reports

Germany is leading the trend in Europe with 182 percent more new electric vehicle registrations in July as against last year. Analysts’ forecast e-car sales to increase 60 percent in the continent and 20 percent worldwide in 2020 full year.

Kryptoszene.de, German news agency for cryptocurrencies, stocks, and investment, has come up with a series of data infographic on the e-mobility in German and international market. According to Roland Berger’s e-mobility index for technology, Germany is leading in the first place, while China continues to lead in the ‘industry’ and ‘market’ sections of the index.

According to the infographic, about 182 percent more electric vehicles were registered in Germany in July this year than that of last year, despite the fact that the automotive market is generally in decline due to the corona crisis. For all drive systems, 5.4 percent fewer vehicles have been registered. A total of 16,798 new electric vehicles were registered in July. The Renault Zoe is in the lead with 2,851 new registrations, followed by the Volkwagen E-Golf and Hyundai Kona.

As can be seen in the infographic, German companies are certainly leading the way in electric mobility. With a score of 2.3 in the “Technology” section of the e-mobility index, they occupy the absolute top position. In the “Industry” and “Market” sections, however, China continues to dominate.

As the study shows, Bloomberg analysts expect the electric car market to pick up speed considerably, especially in Europe. They assume that 60 percent more electric cars will be sold on the continent in the whole year than in 2019, and that the increase worldwide will amount to around 20 percent.

“The demand for electric vehicles is growing considerably,” according to Kryptoszene analyst Raphael Lulay. “The state’s innovation premium may be playing a role here, but even so, various surveys suggest that electric vehicles are becoming attractive to more and more customers”.

Infographics: Click here!