Is it expensive to own an electric car? 66% are sold in rich countries
Sales of electric vehicles in the “most stable economies” and Europe’s highest income countries such as Germany, Austria, Switzerland France, Belgium, Luxembourg, Netherlands, United Kingdom, Ireland and Iceland, together represent more than 66% of the total done on the continent, according to a report by Jato Dynamics. In this sense, the penetration of electric vehicles represents 15% in northern European markets, generally with higher incomes, while in southern countries, with low incomeThe percentage remains at 3.8%.
In his analysis of electric vehicle penetration in various markets, The consultant notes that in Norway, For example, this type of car has become “the most popular” due to, among other things, “strong government incentives”, and also indicates that the Nordic country has Cheaper to buy an electric car than the internal combustion engine elsewhere in Europe. “Demand in neighboring Scandinavian markets is also strong, again due to continued government support and Highest purchasing power of consumers in relation to other European countries”, adds Felipe Muñoz, author of the report.
Likewise, electric car penetration is also accelerating in Germany, referring to Austria, “Europe’s most stable economy”. Switzerland, France, Belgium, Luxembourg, Netherlands, United Kingdom, Ireland and Iceland. “Together, (these countries) represent more than two-thirds of the total sales volume (of electric vehicles) in Europe: in the third quarter of 2022 the market share of electric vehicles in this market will reach 15%”, underlines the consultancy analysis.
In contrast, in Central and Southern European countries And in the Baltic states, “where ‘per capita’ income is generally low,” electric car adoption is accelerating “Too slow” and in these countries “The electric vehicle market share was 3.8% in the third quarter of 2022.”
Developing countries are lagging behind
The report notes that poor and developing countries currently account for “more than a fifth” of global vehicle sales, and calls for steps to be taken by both manufacturers and governments to ensure these markets are not excluded from the transition to electric vehicles. . Barriers to entry into this type of car. In this sense, the analysis indicates that in the third quarter of 2022 the market share of 100% electric vehicles will exceed 10% in China, Europe and South Korea “In similar regions it did not reach 1% Latin America and Russia.” “This disparity is the result of income disparity, which is reflected in infrastructure, industry competitiveness and low level of consumer awareness”, values the Jato Dynamics report.
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