German Electric Vehicle Market Shrinks by 27% in 2024 as Tesla and Opel See Major Losses

The removal of government subsidies contributed to a sharp decline in EV sales, with some automakers gaining market share despite the downturn.

Sales of battery electric vehicles (BEVs) in Germany fell by 27% in 2024, with total new registrations dropping to approximately 381,000 units.
Tesla experienced the largest decline, with new registrations falling by over 26,000 to 38,000 vehicles, reducing its market share to 9.9% and dropping it to third place in the German EV market.
Opel's EV registrations plummeted from nearly 28,000 to under 8,000, leaving the company with only 2% of the market, attributed partly to the end of subsidies for smaller models like the Corsa Electric.
BMW emerged as a key winner, increasing its BEV registrations by 1,600 to over 40,000, overtaking Tesla for second place with an 11.1% market share.
Volkswagen retained its top position with a 16.3% market share, despite a decrease in new registrations, while other brands like Skoda and Volvo also recorded notable market share gains.