Without massive subsidies, EVs are mere lifestyle products.
Bloomberg (8/29/24) reports: "Auto sales in Europe were roughly flat in July as demand for electric vehicles weakened further in Germany, the region’s biggest car market. New-car registrations ticked up just 0.4% compared to a year ago to 1.03 million units last month, the European Automobile Manufacturers’ Association said Thursday. While sales of battery-electric cars increased in countries including France and the UK, those gains weren’t enough to offset a 37% decline in Germany. EV sales have slumped for months in Europe, in part due to governments paring back financial incentives to purchase battery-powered cars. Germany abruptly ended EV subsidies in mid-December, and the country’s persistent economic downtrend has weighed on consumer spending. EV sales have slumped for months in Europe, in part due to governments paring back financial incentives to purchase battery-powered cars. Germany abruptly ended EV subsidies in mid-December, and the country’s persistent economic downtrend has weighed on consumer spending."
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