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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 2025
Quarterly Insights - (2025 Q1 vs 2024 Q1)
- Increase of BEV Registrations (2020 vs 1580) by +27,85% YoY
- Increase of PHEV Registrations (2033 vs 2012) by +1,04% YoY
- Decrease of ICE Registrations (12992 vs 19394) by -33,01% YoY
- Increase of BEV Market share (6,08% vs 4,31%)
- Increase of PHEV Market share (6,12% vs 5,48%)
- Decrease of ICE Market share (39,12% vs 52,86%)
Monthly Insights - (March 2025 vs March 2024)
- 23236 Total BEVs Registered so far (since 2019)
- Increase of BEV Registrations (775 vs 549) by +41,17% YoY
- Decrease of ICE Registrations (5236 vs 6573) by -20,34% YoY
- Increase of BEV Market share (6,09% vs 4,40%)
- Decrease of ICE Market share (41,14% vs 52,68%)