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Demand for electric cars across Europe is on a “continuous downward trajectory” following a “spectacular” collapse in sales in Germany and France.
In the latest sign that the electric vehicle revolution has come to a screeching halt, figures show that just 92,627 battery-powered cars were registered in the European Union last month, down 44% from August last year.
The European Automobile Manufacturers Association (ACEA), which published the figures, said the drop was “driven by a spectacular fall” of 69 percent in Germany and 33 percent in France, the region’s two largest markets for battery electric vehicles.
Sold out: In the latest sign that the electric vehicle revolution has gone into reverse, just 92,627 purely battery-powered cars were registered in the EU last month
“The market for electric cars is on a downward trajectory,” the group said. “The continuing trend of a shrinking market share for battery-electric cars in the EU is an extremely worrying sign.”
Carmakers now risk multi-million pound fines if they fail to meet new targets designed to encourage the adoption of electric vehicles to reduce carbon emissions.
Manufacturers also face the possibility of fines in the UK for failing to meet strict green targets. The threat comes amid a growing backlash from motorists against electric vehicles.
Auto Trader has 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, with 65 per cent only budgeting £20,000 for their next vehicle.
The average cost of a new battery-only vehicle is 31 per cent higher than that of petrol or diesel models, at £51,000.
Lack of demand has led major automakers to pause plans to make new battery-powered models.
US auto 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 owns 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, ACEA called for a delay in adopting ambitious green targets.
He said refusing to extend next year’s looming targets and a 2035 deadline for ending petrol and diesel car production “raises the daunting prospect of multi-billion-dollar fines or unnecessary production cuts and job losses”.
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