EVs Sales Down in EU

Investment Analysis Clubs Macro Economic Trends and Risks
1

https://www.reuters.com/business/autos-transportation/eu-car-sales-3-year-low-august-ev-sales-down-439-acea-says-2024-09-19/
EU car sales at 3-year low in August, EV sales plunge 44%

France, Germany, Italy, Spain, and UK
BEV sales in the top five markets decreased by 5% in Q4 2024 in comparison with the equivalent period in 2023.

In France, sales of new Teslas fell by 63 percent, while total car sales in the country fell by just 6 percent, with EV sales dropping just half a percent.

Germany was already looking like lost ground for Tesla—its 41 percent drop in 2024 accounted for most of Tesla’s lost sales across Europe. That must make the 59 percent drop in German Tesla sales recorded during January even more painful on the profit and loss statements.

2

Part of this is the reduction in subsidies, but are there other things going on?

DB2

1 Like
3

Yes. I believe it rhymes with “tusk”.

5 Likes
4

In related news (saw this yesterday but had not seen it shared here yet):

2 Likes
5

Well, based on recent numbers, parts of Europe are in, or nearly in, recession. That certainly can’t help sales of high priced items like cars. But Tesla sales are down MORE than other EV sales. Of course, with China entering European EV markets, that may continue.

1 Like