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Terminology
BEV = Battery Electric Vehicles
PHEV = Plug-in Hybrid Electric Vehicles (internal combustion engine with larger battery and plug)
NEV = New Electric Vehicles - Rechargeable (with plug) total of BEV + PHEV
HEV = Hybrid Electric Vehicles (internal combustion engine with small battery and no plug)
ICE = Internal Combustion Engine Vehicles without battery
MoM % = Month over Month Registrations % Growth/Decline
QoQ % = Quarter over Quarter Registrations % Growth/Decline
YoY % = Year over Year Registrations % Growth/Decline
Key Insights: - March 2023
Quarterly Insights - (2023 Q1 vs 2022 Q1)
- Increase of BEV Registrations (1392 vs 505) by +175,64% YoY - best quarter so far!
- Increase of PHEV Registrations (1766 vs 1274) by +38,62% YoY - best quarter so far!
- Increase of BEV Market share (4,12% vs 2,25%) - best quarter so far!
- Decrease of ICE Market share (63,46% vs 64,53%)
Monthly Insights - (March 2023 vs March 2022)
- 7522 Total BEVs Registered so far (since 2019)
- Increase of BEV Registrations (724 vs 278) by +160,43% YoY - best month so far!
- Increase of PHEV Registrations (822 vs 515) by +59,61% YoY - best month so far!
- Increase of BEV Market share (5,45% vs 3,30%) - best month so far!
- Increase of PHEV Market share (6,19% vs 6,12%)
- Decrease of ICE Market share (59,56% vs 63,38%)