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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: - May 2023
Monthly Insights - (May 2023 vs May 2022)
- 8705 Total BEVs Registered so far (since 2019)
- Increase of BEV Registrations (720 vs 234) by +207,69% YoY
- Increase of PHEV Registrations (725 vs 525) by +38,10% YoY
- Decrease of ICE Registrations (7794 vs 8117) by -3,98% YoY
- Increase of BEV Market share (5,56% vs 1,95%) - best month so far!
- Increase of PHEV Market share (5,59% vs 4,38%)
- Decrease of ICE Market share (60,15% vs 67,67%)