Demand for electric vehicles soars 2.3 times in Ukraine in March, share of new vehicles decreases

MOSCOW. April 9 (Interfax) - The registration of electric vehicles (both new and second-hand) soared 2.3 times in Ukraine year-on-year to 4,420 in March 2024, Ukrainian media said, citing an Ukravtoprom statement on a social network.

The share of new electric vehicles among the newly registered cars decreased to 20%, versus 27.5% in March 2023 and 24% in January and February 2024.

Most of the electric vehicles registered over the past month are cars (4,337, including 900 new cars and 3,437 second-hand cars), and only five registered commercial vehicles are new.

The top five models of new electric cars registered in March are Volkswagen iD.4 (207), BYD Song Plus (112), Honda eNS1 (79), Honda M-NV (70) and Nissan Ariya (68).

The top five models of second-hand cars for the first time included Nissan Leaf (546), Tesla Model 3 (456), Tesla Model Y (349), Volkswagen e-Golf (246) and Tesla Model S (192).

Given the association's statistics of electric vehicles registered in January and February this year, about 11,900 vehicles were registered in Ukraine for the first time, which is 2.4 times more than last year.

In turn, the AUTO Consulting information analysis group linked a decline in the share of new electric vehicles on the market to the damage sustained by the Ukrainian power grid, among other factors.

Media said, referring to the group website, the share of new electric vehicles on the market dropped to 15.5% in March 2024, compared to 19.9% in February and 21.6% in January-February.

"It looks like the market has slowed down purchases of new electric vehicles, and their popularly has slightly decreased," group experts said.

As reported, Ukravtoprom posted a 2.8-fold increase in the registration of electric vehicles in Ukraine to 37,600 in 2023, when the share of new vehicles stood at 20%, versus 17% the year before.