Munich, Feb. 1, (dpa/GNA) – European carmakers are under pressure in the rapidly growing global market for all-electric cars.

Worldwide, new registrations for battery electric vehicles (BEVs) doubled last year to 4.5 million. But the market share of German carmakers fell from 17 to 14 per cent in the last quarter, according to a study by management consultants PwC.

Asian manufacturers have come through the semiconductor crisis better than European and German ones, PwC industry expert Felix Kuhnert explained on Tuesday.

This is shown by last year’s sales figures: eight of the 10 best-selling BEV models in China and the US came from an Asian or US manufacturer. No European was among the top 10 in China. Only one in three BEVs sold in China, Europe or the US is a European brand.

This snapshot is important because the coming months will be groundbreaking in the new segments, Kuhnert said.

“In important markets like China, it is now a matter of European manufacturers building on the success of internal combustion engines and maintaining and, if necessary, expanding market share.”

To do this, however, they would have to be able to deliver enough cars. “If you have to regain lost market share later, this is a cost-intensive and challenging task.”

There are plans worldwide to reduce subsidies for electric vehicles.

China, for example, has announced plans to cut subsidies by 30 per cent this year, Britain has already cut subsidies, and in the US the planned tax credit for e-vehicles does not yet have a majority in Congress.

Nevertheless, the consultants do not expect a slump in sales figures: “The BEV market is growing more and more under its own steam,” said PwC Strategy& Director Jörn Neuhausen.

Drivers are the growing model range, falling costs and more power thanks to technical advances. One bright spot is the ramp-up of battery cell production in Europe.

GNA

Munich, Feb. 1, (dpa/GNA) – European carmakers are under pressure in the rapidly growing global market for all-electric cars.

Worldwide, new registrations for battery electric vehicles (BEVs) doubled last year to 4.5 million. But the market share of German carmakers fell from 17 to 14 per cent in the last quarter, according to a study by management consultants PwC.

Asian manufacturers have come through the semiconductor crisis better than European and German ones, PwC industry expert Felix Kuhnert explained on Tuesday.

This is shown by last year’s sales figures: eight of the 10 best-selling BEV models in China and the US came from an Asian or US manufacturer. No European was among the top 10 in China. Only one in three BEVs sold in China, Europe or the US is a European brand.

This snapshot is important because the coming months will be groundbreaking in the new segments, Kuhnert said.

“In important markets like China, it is now a matter of European manufacturers building on the success of internal combustion engines and maintaining and, if necessary, expanding market share.”

To do this, however, they would have to be able to deliver enough cars. “If you have to regain lost market share later, this is a cost-intensive and challenging task.”

There are plans worldwide to reduce subsidies for electric vehicles.

China, for example, has announced plans to cut subsidies by 30 per cent this year, Britain has already cut subsidies, and in the US the planned tax credit for e-vehicles does not yet have a majority in Congress.

Nevertheless, the consultants do not expect a slump in sales figures: “The BEV market is growing more and more under its own steam,” said PwC Strategy& Director Jörn Neuhausen.

Drivers are the growing model range, falling costs and more power thanks to technical advances. One bright spot is the ramp-up of battery cell production in Europe.

GNA