Majority of Car Owners in Germany Avoid Electric Vehicles, Reports HUK Coburg

Despite a notable increase in the adoption of electric vehicles (EVs) by companies, private car owners in Germany remain largely hesitant to make the switch to electric. According to data released by HUK Coburg, a leading automotive insurance provider, only three percent of privately owned vehicles are fully electric. The growth in this segment is minimal, with an increase of just 0.1 percent from one quarter to the next.

The skepticism towards electric cars is particularly pronounced among individual consumers. HUK Coburg's CEO has highlighted that the electric vehicle market is struggling to gain traction among private buyers, emphasizing the difficulties EVs face in achieving widespread acceptance.

Regional disparities are also evident in the adoption rates of electric vehicles. In states with a strong automotive industry, such as Bavaria, Lower Saxony, and Baden-Württemberg, the share of electric cars is more than double that of regions like Saxony-Anhalt and Saxony.

The report further explores the burgeoning market for used electric vehicles. It indicates that 61 percent of consumers transitioning from combustion engines to electric vehicles in the first quarter opted for a used model rather than a new one. This trend may contribute to the sluggish pace of new electric vehicle registrations.

A recent survey conducted by YouGov, which included over 4,200 participants, revealed that public perception of electric vehicles remains cautious. While 42 percent of respondents viewed electric cars as good or very good, a significant 51 percent considered them to be of lesser quality. Moreover, only 15 percent stated that they would exclusively consider purchasing an electric vehicle.

Concerns about the reliability of used electric vehicles also persist, with 60 percent of survey participants expressing greater hesitance towards buying a used electric car compared to a traditional combustion engine vehicle. This prevailing skepticism highlights the challenges that the electric vehicle market must overcome to foster greater acceptance among private car owners.