Forecast: Number of Electric Passenger Cars in Austria

In 2023, the number of electric passenger cars in Austria stood at 141.73 thousand units. This marked a significant increase from 76.54 thousand units in 2021 and 110.23 thousand units in 2022, demonstrating strong year-on-year growth rates of 71.97% and 44.01%, respectively.

Looking back over the last five years, the compound annual growth rate (CAGR) from 2018 to 2023 was 46.74%. This reflects a substantial upward trajectory in the adoption of electric vehicles in Austria.

From a longer-term perspective, the forecast for 2024 and beyond shows a slower yet consistent growth trend, with an anticipated five-year CAGR of 11.25% leading up to 2028. By 2028, the number of electric passenger cars is expected to reach 294.78 thousand.

Future trends to watch for:

• Advancement in battery technology that could improve vehicle range and reduce costs, accelerating adoption.
• Government incentives and regulations promoting electric and hybrid vehicles.
• Expansion of charging infrastructure enhancing convenience for electric vehicle owners.