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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: - September 2023
Quarterly Insights - (2023 Q3 vs 2022 Q3)
- Increase of BEV Registrations (1731 vs 707) by +144,84% YoY
- Increase of PHEV Registrations (2421 vs 1113) by +117,52% YoY - best quarter so far!
- Increase of BEV Market share (5,07% vs 2,51%) - best quarter so far!
- Increase of PHEV Market share (7,09% vs 3,95%)
- Decrease of ICE Market share (56,47% vs 67,77%) - worst quarter so far!
Monthly Insights - (September 2023 vs September 2022)
- 11073 Total BEVs Registered so far (since 2019)
- Increase of BEV Registrations (755 vs 282) by +167,73% YoY - best month so far!
- Increase of PHEV Registrations (1100 vs 377) by +191,78% YoY - best month so far!
- Increase of BEV Market share (6,62% vs 3,28%) - best month so far!
- Increase of PHEV Market share (9,64% vs 4,38%) - best month so far!
- Decrease of ICE Market share (49,23% vs 61,94%) - worst month so far!