German new passenger car registrations down 6.4% to 203,434 in February - KBA

German new passenger car registrations down 6.4% to 203,434 in February - KBA

The German new passenger car market experienced a decline of 6.4% in February, with a total of 203,434 registrations reported by the Federal Motor Transport Authority (KBA) [1]. This decrease comes amidst a larger contraction of the German new car market in full year 2024, which saw a 1% decline in overall registrations compared to 2023 [1].

Despite the overall market contraction, the German motorized vehicle market expanded slightly in 2024, growing by 0.5% to 3,495,412 new vehicle registrations [1]. This growth was primarily driven by increased sales of motorcycles and heavy commercial vehicles, while passenger car sales decreased by 1% [1].

Battery-electric vehicle (BEV) sales, a significant component of the German new car market, have also experienced a decline in 2024. According to the latest data from the KBA, BEV sales were down by over a quarter compared to 2023, with market share at a four-year low [1]. This decline in BEV sales has contributed to an increase in CO2 emissions from new cars sold in Germany in 2024, marking the second consecutive year of growth in this area [1].

The decline in new passenger car registrations in February is not an isolated incident. In fact, the German new car market has experienced a steady decline in monthly registrations throughout 2024, with the exception of a slight increase in January [2]. This trend is expected to continue in the coming months, as the German new car market continues to contract in 2024.

Despite the overall decline in the German new car market, some car brands have managed to maintain their market share. Volkswagen, for example, remained the top-selling car brand in Germany in 2024, with the VW Golf the top-selling car model [1]. Volkswagen also remained the top electric car brand, and the Tesla Model Y was the best-selling battery-electric car model in Germany [1].

In conclusion, the decline in German new passenger car registrations in February is part of a larger trend of contraction in the German new car market in 2024. This decline in registrations, coupled with a decline in battery-electric vehicle sales and an increase in CO2 emissions, is expected to continue in the coming months.

References:
[1] KBA. (2024). German New Motorized Vehicle Market in 2024 (Full Year). Retrieved from https://www.kba.de/en/home/press/press-information/2024/02/german-new-motorized-vehicle-market-in-2024-full-year
[2] VDA. (2024). New Passenger Car Sales in Germany by Month. Retrieved from https://www.vda.de/en/topics/statistics/new-passenger-car-registrations/new-passenger-car-sales-in-germany-by-month