In 2023, 8.8% of the new cars registered in Latvia will be electric

In 2023, Latvia has reached a record in terms of new electric car registration – 8.8% of the total number of new passenger cars registered, compared to 6.39% in 2022. “Volkswagen” showed a significant jump in the registration of electric cars last year, taking the honorable first place and leaving behind the electric cars of the “Nissan” brand. On the other hand, “Tesla” closed the top with a huge breakthrough compared to 2022.

Comparing last year’s data with 2022’s data, electric car registrations have increased by 52.1% – from 1068 light passenger electric cars registered in 2022 to 1624 electric cars in 2023.

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Auto Association president Andris Kulbergs explains: “Despite the record number of new electric car registrations, Latvia is one of the last countries in the European Union to introduce an electric car support program. Unfortunately, the support program has not yet been implemented for legal entities. As a result, Latvia is at least 5 years behind in the development of the electric car mobility market. For example, in Germany, the share of new electric car registrations is as much as 22.4%, while in Latvia it is only 8.8%. On the other hand, Latvia lags behind Norway by at least ten years, where the registration of electric cars has reached 82.4%.”

The winner of the first place, “Volkswagen”, ranks first in the chart, increasing the volume of registered cars by 100.9%, or from 116 electric cars in 2022 to 233 electric cars in 2023. Nissan brand electric cars are in second place, increasing the volume of 196 electric cars registered in 2022 to 205 electric cars in 2023, or increasing the number of registered cars by 4.6%. On the other hand, in the third place with a huge breakthrough against the 10 electric cars registered in 2022, “Tesla” ranks, increasing the volume by 1480% with 158 registered electric cars in 2023, rising in the list of the most registered electric cars from 18th place to 3rd place last year.

A. Kulbergs concludes: “Free parking spaces and the possibility to use public transport lanes in Riga have created a situation where 50% of all electric cars registered in Latvia are located in Riga, while Pieriga and Riga together have up to 73% of all light passenger electric cars registered in Latvia. This indicates that the purchase of electric cars is closely related to living in a private house. The ability to charge the vehicle at home is the main factor for its purchase, as it results in favorably low operating expenses when charging at the household rate.”

In terms of registrations of used light passenger electric cars, there is also an increase of 32.1%, from 788 electric cars in 2022 to 1041 electric cars in 2023. “Tesla” is in the leading position of used electric cars with 374 electric cars registered in 2023 compared to 249 electric cars registered in 2022, increasing the volume by 50%. The second place is occupied by BMW brand electric cars with 180 registered electric cars last year compared to 136 registered electric cars in 2022, increasing the volume by 32.4%. On the other hand, the third place is occupied by Audi brand electric cars with 87 registered electric cars in 2023 compared to 33 registered electric cars in 2022, increasing the volume by 163.6%.

Of all the most demanded used electric cars, only “Hyundai” and “Nissan” have experienced a decrease in volume in 2023 by 11.5% and 51.6%, respectively.

“Although statistical data show a positive picture of the transition of the Latvian car fleet to electric cars, the number of new electric car orders has decreased in 2023. The selling price of electric cars is higher than that of internal combustion cars, and the Euribor rate of the European Central Bank affects their purchase more than other types of energy cars. Also, the charging options and availability also affect users’ interest in purchasing an electric car. The frost this winter not only affected home heating expenses, but also the possible mileage of electric cars between charging times, which decreases by up to 50% in frosty conditions,” says the president of the Auto Association.

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