Europe’s car industry has called for the relaxation of EU emissions targets after sales of electric cars stalled further in August, adding to growing political pressure that threatens to slow the transition away from fossil fuels.
However, sales of electric cars fell more rapidly, by 44% compared with August 2023. The industry claims that the reason for the fall is because consumer demand has not risen fast enough, although some analysts say that manufacturers failed to invest early enough in switching to electric production and
Sales were dragged down by Germany and France in particular. Germany, the EU’s largest economy, has been teetering on the edge of recession for two years, pushing Germany’s Volkswagen this month toElectric car sales have been under particular pressure in 2024. One major factor was Germany, the EU’s largest car market, withdrawing attractive subsidies at the start of the year.
Felipe Muñoz, a global analyst at Jato Dynamics, said that its data for sales across 28 European markets indicated that overall sales could fall during 2024 compared with 2023.Get set for the working day – we'll point you to all the business news and analysis you need every morning“The industry is going to face further challenges in the coming months,” said Muñoz.