New electric car sales dropped 83% in the first month of 2023, according to figures from the German Motor Transport Authority. German authorities slashed subsidies in January, ostensibly to clamp down on resale fraud. However, new lows in the market may also be due to the viability of electric vehicles with current energy price hikes.
The number of electric cars purchased fell from 104,300 in December 2022 to 18,100 in January 2023, with a December surge caused by the end of the subsidy program. Electric car sales made up just 15% of all purchases in January compared to 55% the month before.
