Forecast: New Registrations of Electric Passenger Cars (Battery Only) in Austria

In 2023, Austria saw 8,790 new registrations of electric passenger cars, reflecting a 5.74% increase compared to the previous year. The recent two years exhibited variations of -3.44% in 2022 and 5.74% in 2023. Over the past five years, the compound annual growth rate (CAGR) was 8.87%. Observing long-term trends, the growth pattern has moderated from high double-digit increases in earlier years to single digits more recently. The forecast for 2028 estimates a total of 11,070 new registrations, with a forecast 5-year CAGR of 3.51% and an overall growth rate of 18.84%.

Future trends to watch:

• Implementation of stricter environmental regulations and potential subsidies, which could boost demand.
• Advances in battery technology and infrastructure enhancements, impacting EV adoption rates.
• Market responses to geopolitical factors affecting raw material availability and pricing for electric vehicle components.