Demand for electric cars across Europe is ‘on a continual downward trajectory’ after a ‘spectacular’ collapse in sales in Germany and France.
In the latest sign that the brakes have been slammed on the electric vehicle (EV) revolution, figures showed just 92,627 battery-only powered cars were registered in the European Union last month. That was down 44 per cent on August last year.
The European Automobile Manufacturers’ Association (ACEA), which published the figures, said the slump was ‘driven by a spectacular drop’ of 69 per cent in Germany and 33 per cent in France – the region’s two biggest markets for battery electric vehicles.
Running flat: In the latest sign the EV revolution has slammed into reverse, just 92,627 battery-only powered cars were registered in the EU last month
‘The electric car market is now on a continual downward trajectory,’ the group said. ‘A continuous trend of shrinking market share for battery electric cars in the EU sends an extremely worrying signal.’
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 online marketplace found that nine in ten UK drivers would refuse to pay more for an electric car than a petrol one. And 65 per cent would budget only £20,000 for their next vehicle.
The average cost of a new battery-only vehicle is 31 per cent higher than petrol or diesel models at £51,000.
The lack of demand has prompted major carmakers to hit pause on plans to manufacturer new battery-powered models.
US giant Ford last month scrapped plans to make a new electric SUV due to a crowded market and weak consumer demand.
And in June, Stellantis, formed from the merger of Fiat Chrysler and PSA, which owned Peugeot, Citroen, Opel and Vauxhall, threatened to close its Ellesmere Port and Luton plants over UK Government quotas for zero-emission vehicles.
In the EU, the ACEA urged a delay on ambitious green goals.
It said refusing to extend targets coming in next year and the 2035 deadline for ending production of petrol and diesel cars ‘raises the daunting prospect of multi-billion euro fines or unnecessary production cuts and job losses’.
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