The electric vehicle market is still struggling to recover following the reinstatement of import VAT on cars. However, the focus has shifted to domestic resales of used electric vehicles, which hit record highs in April. Among new electric cars, Chinese models are the undisputed and virtually unrivaled leaders.
This is evidenced by recent analysis from the Automotive Market Research Institute.
Source: Automotive Market Research Institute
New car imports
This segment is gradually recovering after a sharp decline at the beginning of the year. Compared to March, the number of transactions rose by 118.5% in April, although this is still 45.8% less than during the same period last year. In total, however, we are talking about only a few hundred cars.
Source: Automotive Market Research Institute
However, a new trend has become apparent here: China’s dominant leadership. In April, 82% of all imported electric vehicles were Chinese brands, primarily BYD—five of the top 10 models belong to the company.
Imports of used cars
Compared to April of last year, 54% fewer used cars were imported this year. According to experts, this segment has been hit the hardest. Since March, the percentage increase has been 29.1%, which the IDA considers only a weak sign of stabilization.
Source: Automotive Market Research Institute
A total of 2,208 vehicles were cleared through customs. The majority of these are models with a proven track record, such as the Nissan Leaf or the Tesla Model Y/3.
Domestic Resales
This segment of the electric vehicle market is experiencing a real boom. As long as people don’t want to overpay for VAT, they are buying electric cars domestically. The annual growth rate reached a record 136.3%.
Source: Automotive Market Research Institute
A total of 6,407 deals were concluded. Tesla and Nissan emerged as the clear leaders in the used car market.
"The domestic market has become a haven for those who want to save on fuel today, without waiting months for expensive delivery from abroad," noted the Automotive Market Research Institute.
Electric cargo vehicles
Businesses are transitioning to electric transport very cautiously and gradually. In April, 114 used electric vehicles were imported into Ukraine in the cargo segment. The undisputed leader is the Renault Kangoo ZE, accounting for 50% of registrations.
Sales of new electric cargo vehicles are quite modest—only seven such vehicles were imported in a month.
"Owners are in no hurry to sell their electric cars right now, as they definitely won’t be going back to gasoline or diesel. Especially when they have their own outlet with a residential electricity rate. Going forward, volumes in the used car market will decline because there isn’t enough new supply. And following this, we should expect not so much a shortage, but a noticeable increase in the price of electric vehicles against the backdrop of rising fuel prices,” the IDA predicts regarding the market’s future development.
EcoPolitic previously reported that against the backdrop of rising fuel prices due to the energy crisis in the EU, electric vehicle sales have increased by 1.5 times. Norway has taken the lead—there, 98% of all vehicles purchased in March were electric.
