Business news from Ukraine

Business news from Ukraine

Electric vehicle registrations in Ukraine increased by 38% in 2024

In 2024, registrations of electric vehicles (new and used) in Ukraine increased by 38% compared to 2023 – up to 51.7 thousand units, Ukravtoprom reported on its telegram channel.

In particular, registrations of passenger cars increased by 37% to 50,458 thousand, commercial vehicles by 64% to 1,264 thousand, and two electric buses were registered.

The share of new vehicles in zero-emission vehicle (BEV) registrations was 20%, the same as in 2023.

The top five new electric cars of the year were headed by Volkswagen ID.4 (1626 units), followed by Honda M-NV (1279 units), BYD Song Plus (1007 units), Nissan Ariya (766 units) and Zeekr 001 (703 units).

The most popular five used cars are Nissan Leaf – 5511 units; Tesla Model 3 – 4639 units; Tesla Model Y – 4225 units; VW e-Golf – 2479 units and Hyundai Kona Electric – 2337 units.

“Ukravtoprom informs that in December last year, Ukrainians purchased almost 3.8 thousand electric vehicles, 18% less than a year earlier, including more than 3.6 thousand passenger cars (-20%) and 124 commercial vehicles (+59%).

As reported, in 2023, according to Ukravtoprom, registrations of new and used electric cars in Ukraine increased 2.8 times to 37.6 thousand, with new cars accounting for 20% compared to 17% a year earlier.

In turn, the Auto-Consulting information and analytical group, analyzing the market of new passenger electric cars, noted that their share in December amounted to only 11.5% of sales in the market of new passenger cars.

“This is the lowest figure for the whole of 2024,” the group said on its website.

The group’s analysts remind that 2024 began with a 23.7% share of electric cars, but it declined further.

“The catalyst for this process was the shelling of Ukraine’s energy infrastructure. And after each prolonged power outage, a decrease in the share of electric vehicles among new cars purchased was recorded,” the report says.

According to Auto-Consulting, at the end of the year, electric cars accounted for 16.1% of the new car market, which is 1 percentage point less than in 2023, but after the powerful shelling of the energy sector in November and December, the lowest figure was recorded – 11.5%.

“This is despite numerous tax incentives for the import of electric cars. It is clear that this trend is temporary and is caused by the enemy’s attacks on Ukraine’s energy sector, which is a cause for concern among consumers. However, the enemy has actually slowed down the trend of rapid transition to electric mobility in the Ukrainian car market,” analysts say.

At the same time, among other reasons for the decline in demand for electric vehicles, they name a decrease in the supply of popular models of VW ID.4, Honda and others. In addition, unofficial electric vehicles are increasingly facing price changes and service issues.

Honda considers building electric vehicle plant in Canada

Japanese automaker Honda Motor Co. is considering the possibility of building an electric vehicle manufacturing plant in Canada, the Nikkei newspaper reports.

Investments in the project could reach 2 trillion yen ($14 billion).

Honda is considering several sites for the construction of the plant, including a site near the company’s existing facility in Ontario. The project may include the creation of facilities for the production of electric vehicle batteries, Nikkei notes.

The automaker intends to make a decision on the site for the construction of the Canadian plant by the end of 2024. The plant is expected to start operating in early 2028.

Honda is preparing to start production of electric vehicles and batteries in the US state of Ohio in 2026, and the Canadian plant will become the second largest Japanese company in North America.

This region accounts for about 40% of all Honda sales.

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Electric vehicle registrations in Ukraine almost tripled in 9 months of 2023

Initial registrations of electric vehicles in Ukraine in January-September 2023 increased 2.7 times compared to the same period in 2022, amounting to approximately 24.2 thousand units, while the share of new cars increased to 20% from 15%, Ukravtoprom reported on its Telegram channel on Tuesday.
At the same time, in September, according to the association, registrations increased by 12% compared to August this year and 2.7 times compared to September last year – up to 4,298 thousand units, including 775 new and 3,523 used cars.
The lion’s share of registrations, as before, is occupied by passenger cars – 4.215 thousand units (new – 769 units, used – 3,446 units), and only six of 83 commercial electric vehicles were new.
The TOP-5 new electric vehicles on the market in July included Volkswagen ID.4 – 350 units; Volkswagen ID.6 – 66 units; Toyota BZ4X – 51 units, Honda E – 49 units, BYD Yuan Plus – 19 units.
The top five used cars, as in August, were Nissan Leaf – 590 units; Volkswagen e-Golf – 433 units; Tesla Model 3 – 405 units; Tesla Model Y – 247 units and Renault Zoe – 194 units.
As reported, according to Ukravtoprom, Ukrainians purchased 13.6 thousand electric vehicles (new and used) in 2022, 1.5 times more than a year earlier, while the share of new vehicles increased to 17% from 14%.