The German car market showed a positive trend in October 2024. A total of 231,992 new vehicles were registered, an increase of 6.0% compared to the previous year. Commercial new registrations grew particularly strongly with an increase of 10.8%, while private new registrations fell slightly. Volkswagen and Peugeot led the growth figures, and there were also notable increases in vehicle segments such as SUVs and luxury models. The electric car segment remains in focus, although Tesla has to contend with a significant decline here.
Strong new registrations at Volkswagen and Peugeot
Among the German brands, Volkswagen scored with impressive growth of 26.2% and secured a market share of 18.9%. Opel and Mercedes also recorded growth, while brands such as Audi and Ford suffered declines. Among the import brands, Peugeot led the growth with an increase of 130.1%. Toyota, Volvo and Skoda were also able to significantly strengthen their position on the market.
The segments SUVs and luxury class showed the largest increases, indicating that interest in larger vehicles continues to grow. SUVs recorded an increase of 16.6% and now account for over 31% of the market, followed by the compact class with an increase of 14.1%. The upper mid-range saw particularly strong growth, with new registrations increasing by 87%.
Electric cars in October 2024: a growing market with challenges
The market for electric vehicles remains exciting, even though the number of all-electric vehicles (BEVs) fell by 4.9% compared to the previous year. With 35,491 new registrations, BEVs nevertheless achieved a market share of 15.3%, demonstrating the increasing acceptance of emission-free vehicles. Particularly noteworthy is the increase in plug-in hybrids, which rose by 18.2% compared to the previous year and now account for a market share of 8.3%.
The electric vehicle sector is highly competitive, and Tesla, one of the best-known brands in the segment, is facing new challenges. Compared to the same month last year Tesla a 51.9% decline in new registrations. A total of 1,614 Tesla-new vehicles were registered. The decline could be due to increasing competition and the expanded range of electric vehicles on the German market. Manufacturers such as Peugeot, Volvo and Skoda are offering new, attractive electric and hybrid models, expanding the choice for customers.
Tesla and the growing competition in the electric car segment
Tesla, known for the models Model Y and Model 3, has long dominated the electric car market in Germany. But in October 2024, it is clear that the company is facing increasing competition. New market players and established brands are focusing on electromobility and offering models that attack Tesla's previous unique selling points. The decline in Tesla-new registrations illustrates the challenges the company is facing.
Particularly in the area of SUVs and luxury class models Tesla nevertheless remains relevant. The Model Y continues to be one of the most sought-after models, especially in the SUV category, which accounts for the largest share of the entire new car market. With upcoming updates and the planned refresh of the Model Y, known as "Project Juniper", could Tesla strengthen its market share again next year.
Conclusion: the German car market remains dynamic, focus on electromobility
October 2024 shows that the German car market remains diverse and dynamic. While the overall market is growing, the picture in the electric vehicle sector is mixed. Tesla has to face new competition and is focusing on future models and updates in order to remain competitive. For consumers, the increasing choice of electric vehicles and hybrid models offers attractive alternatives. The market for sustainable mobility is constantly evolving and will remain an exciting field with great potential in the future.
Keywords: Tesla, Tesla Model Y, Tesla Model 3, Tesla Accessories, Tesla Store, Shop4Tesla, Tesla News, Electric car market Germany, Electric vehicles, Tesla new registrations, plug-in hybrid, SUV electric car, Tesla Model Y Germany
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