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According to recent data, the European Union’s demand for electric vehicles (“EVs”) has continued to fall, with a significant slump in sales in France and Germany, the region’s two largest markets for battery electric vehicles.
In the latest sign that the brakes have been slammed on the EV revolution, figures showed that registration of battery-only powered cars in the European Union was down 44 per cent compared to August last year. The region’s two biggest markets for EVs saw sales shrink by double-digits; Germany saw a 68.8% drop in EV sales while France recorded a 33.1% decline.
With the average price of EVs being £51,000, 31% higher than petrol or diesel models, consumers are rejecting EVs.
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In the video below, Geoff Buys Cars (“Geoff”) takes a look at This is Money’s article that details the ongoing crisis in the European automotive industry as the electric vehicle movement continues to stall.
What his analysis of cars being sold by manufacturer shows is that people are still buying cheap new cars. But the car manufacturers have all moved away from making cheap new cars, Geoff said.
“Their offering is completely wrong,” he said. “Instead of looking at what the market wants, they followed what they want for profit and shareholders and government incentives without actually thinking about their consumers and the people that buy their cars.”
The Volkswagen Golf was the bestselling car in Europe for 34 years and it’s not even in the top 10 list for August. In fact, BMW is selling more new cars than Volkswagen. So, what’s going on?
This is Money’s article tells us: “Car makers are now at risk of multi-billion-euro fines if they miss new targets designed to encourage take-up of electric vehicles to cut carbon emissions. Manufacturers also face the prospect of fines in the UK for missing draconian green targets. The threat comes amid a mounting backlash against EVs from motorists. Auto Trader warned that the high price of battery-powered cars is putting off British drivers.”
“The automotive manufacturers have completely lost the plot,“ Geoff said. “’Green’ is just a brand name, it doesn’t mean anything.”
“[Car] manufacturers need to stand up to the government lobbyists who are trying to push these mandates.”
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