Netherland Electric Car Market Analysis, Trends, Growth, Size, Forecast 2019 to 2025
The Netherlands electric car market is projected to augment at a CAGR of more than 23.0% during the forecast period, 2019-2025. Tax incentives have provided an exponential growth to the electric car market in 2019. The country’s electric car sales have registered a growth of 145% in 2019 YoY and reached to 72,600 in 2019 compared to around 29,700 in 2018.
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In addition, the government is offering various subsidies on electric cars including no road tax for five years, no luxury car tax which is up to $11,000 for fossil fuel vehicles, and lower-income tax on the Benefit in Kind (BiK) schemes. Moreover, from July 2020, an electric car will attract a subsidy of $4,425 for a car up to $50,000. While purchasing a second-hand EV, one can get a subsidy up to $2,200. These incentives are going to provide a considerable opportunity to the electric car market in the near future.
The Netherlands electric car market is analyzed on the basis of vehicle type, propulsion technology, and battery type. Based on vehicle type, the market is further segmented into hatchback, sedan, and SUV. Some of the most selling car models in the country include Tesla Model 3, Audi e-Tron, Nissan LEAF, Renault ZOE, and MG ZS EV. On the basis of propulsion technology, the market is bifurcated into battery-electric cars and plug-in hybrid electric cars.
Battery electric cars market is estimated to have a major market share during the forecast period. As per the European Automobile Manufacturers Association, in 2019 around 67,700 battery-electric cars were sold in the country, with a growth of 156% YoY making the country the largest market for battery-electric cars in 2019. Moreover, around 4,900 plug-in hybrid cars were sold in the country with a growth of around 54% YoY. By battery type, the market is sub-segmented into NiMH, Li-Ion, and others. Li-ion battery-electric cars market is expected to cover a major share in the near future.
The companies which are contributing significantly in the market include Audi AG, BMW AG, Hyundai Motor Co., Jaguar Land Rover Ltd., Kia Motors Corp., Mitsubishi Motors Corp., Nissan Motor Co., Renault Group, SAIC Motor Co. Ltd., Tesla, Inc., and Volkswagen AG. The market players are considerably contributing to the market growth by adopting various growth strategies including new product launch, merger and acquisition, collaborations with government, and technological advancements to stay competitive in the market.
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Latin America Electric Car Market Segmentation
By Vehicle Type
- Sedan
- Hatchback
- SUV
By Propulsion Technology
- Battery Electric Car
- Plug-in Hybrid Electric Car
By Battery Type
- NiMH
- Li-Ion
- Others
Regional Analysis
- Mexico
- Brazil
- Argentina
- Colombia
- Rest of Latin America
Company Profiles
- BMW AG
- Daimler AG
- Fiat Chrysler Automobiles N.V.
- Ford Motor Co.
- General Motor
- Groupe PSA
- Honda Motor Co.
- Hyundai Motor Co.
- Mitsubishi Motors Corp.
- Nissan Motor Co.
- Tesla, Inc.
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