Electric vehicle sales off to slow start in 2024

In Denmark, electric vehicle (EV) sales in January were lower than the 2023 monthly average, with EVs making up 35% of total new car sales, down from 50% in December. The decline is likely due to consumers waiting for tax deductions to revert to their higher 2023 rates in February, according to Thomas Møller Sørensen of Dansk Industri Automotive. The reduced registration tax deduction in January is seen as the primary factor, with an expectation for sales to significantly increase for the remainder of the year once the deduction increases in February, as stated by Mads Rørvig from Danish Car Importers. Contrarily, Ilyas Dogru from FDM suggests that the sales dip is a natural result of it being the start of the year combined with delayed consumer orders from late last year. Overall, January saw a 15% decrease in new car registrations compared to the previous year, the first drop in more than a year.