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European Electric Passenger Car Market Monitor (November 2019)

Updated: Mar 3, 2020

Key Updates: - Germany now Europe's largest BEV market with one month of the year remaining - The Netherlands now Europe's third largest BEV market ahead of France - Norway recorded its second consecutive fall in monthly BEV registrations - The Netherlands and UK continue to prop-up a slowing market thanks to fiscal changes Germany moved ahead of Norway in November to become Europe's largest all-electric passenger car market, with just one month of the year remaining, according to the monthly West European Electric Car Market Intelligence Report. Due to Norway being included in the European Union's CO2 fleet average equation (since January 1, 2019), OEMs are likely artificially deflating supply in the – up until last month – crowning Nordic market's final months of 2019, in order to shift volumes to 2020. From this point, new weight-based EU CO2 fleet average targets of 95g/km start to apply – although next year's target includes a so-called 'phase-in' period where the worst 5 percent of the fleet can be omitted from the total.

Norway is also suffering from seeing its position as a top Tesla priority market diminish somewhat during the closing months of this year, relegated behind The Netherlands, and possibly the UK also, due to two various fiscal changes boosting both markets (see current report) – contributing to two consecutive monthly falls in the Norwegian BEV market in both October and November. December is also forecast to see another fall in Norway, for the same reason, combined with a host of new products entering the market from 2020, it is no doubt dampening consumers' appetites, for now. This downturn is only expected to be an anomaly, due to the reasons mentioned above, although due to the sheer total size of other markets, Norway is unlikely to top Europe's electric volumes again, going forward.

In November itself, both The Netherlands and the UK – thanks to the changing fiscal regulations, boosting the markets (see current report) – saw both markets take the top two positions in Europe with 6,869 (+125% y/y) and 4,652 (+229% y/y) new BEV registrations respectively, according to official RAI Vereniging and SMMT data.

Full commentary, data, market trends and market outlooks are published on a monthly basis here


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