Getting five out of every 100 registrations to be electric is difficult but from here on the situation improves a lot or at least that’s what a well-known consulting firm says.
Bloomberg Green has published a report with a fact as curious as it is encouraging: the countries in which electric cars reach 5% market share They have almost assured success in the future of mobility and Spain is among them.
The consulting firm’s forecasts indicate that those countries that exceed this percentage will grow up to 25% in the next four years. The report supports this forecast in the trend shared by other technologies that have registered slow growth in their origins and much faster when reaching that point. 5% key.
Spain exceeds 5%
According to the Bloomberg report, today there are a total of 23 countries that exceed or are about to exceed 5% of the electric car market share and, with this, they should very soon consolidate the presence of this new form of mobility.
A year ago, the countries best placed in terms of penetration of zero emission vehicles There were 19 and ours was not among them.
According to the data managed by the consulting firm, Penetration rate of electric vehicles in the Spanish market is 6.3%that is, just over 6 out of every 100 registered cars are zero emissions.
Bloomberg points to the European construction association ACEA as a source of data. Taking into account that the manufacturers represented in Anfac indicate that the national quota is 4.1%, we understand that the difference comes because the Spanish association only includes passenger cars and the European association includes passenger cars, motorcycles and mopeds.
What goes up comes down
The question is: after 5%, is the rise unstoppable? Not really. The trend shows that after a first phase of strong and rapid growth, sales decline again, most likely because the market becomes saturated. We find an example in Norway where electric sales quotas have reached 97% and are now declining.
Contributing to this is that once electric cars become popular, governments stop encouraging their sale, which has a clear effect on users’ purchase intention.