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After the subsidies-derived sales rush of December, Germany’s plugin vehicle (PEV) market was bound to have a hangover month in January. And it did, by scoring some 37,000 registrations. While that is a 40%-plus increase over the January 2023 result, it is important to remember that a year ago, the German EV market was experiencing another hangover month, related to the end of PHEV subsidies in December 2022. So, comparing January 2024 with January 2022, this year there was a 9% drop. So, one can say that the removal of incentives, both to BEVs (end of 2023) and PHEVs (end of 2022), pulled the market backwards by two years. January 2024 looks more like January of 2022 than January of 2023.
One example of that is the recovery of plugin hybrids (PHEVs), which jumped this year by 63% YoY….
Read the full article originally published at cleantechnica.com.