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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: - December 2024
Yearly Insights - (2024 vs 2023)
- Increase of BEV Registrations (8707 vs 6379) by +36,49% YoY - best year so far!
- BEV-PHEV mix moved in favor of BEV this year: (51,31% - 48,69%) compared to last year: (41,93% - 58,07%)
- Decrease of ICE Registrations (62263 vs 78281) by -20,46% YoY - worst year so far!
- Increase of BEV Market share (6,35% vs 4,74%) - best year so far!
- Decrease of ICE Market share (45,40% vs 58,19%) - worst year so far!
Quarterly Insights - (2024 Q4 vs 2023 Q4)
- Increase of BEV Registrations (3105 vs 1436) by +116,23% YoY - best quarter so far!
- Decrease of ICE Registrations (10375 vs 15441) by -32,81% YoY - worst quarter so far!
- Increase of BEV Market share (10,69% vs 4,79%) - best quarter so far!
- Decrease of ICE Market share (35,72% vs 51,48%) - worst quarter so far!
Monthly Insights - (December 2024 vs December 2023)
- 21216 Total BEVs Registered so far (since 2019)
- Increase of BEV Registrations (1081 vs 577) by +87,35% YoY
- Increase of PHEV Registrations (722 vs 666) by +8,41% YoY
- Decrease of ICE Registrations (2933 vs 3903) by -24,85% YoY - worst month so far!
- Increase of BEV Market share (12,42% vs 7,00%) - best month so far!
- Increase of PHEV Market share (8,29% vs 8,07%)
- Decrease of ICE Market share (33,69% vs 47,32%) - worst month so far!