Posted on 04/19/2024 4:14:15 PM PDT by Oldeconomybuyer
Europe’s plunging electric vehicle sales are painful proof the market isn’t ready to stand on its own, putting governments on notice for more support until affordable EVs become a reality.
The glut is clogging up ports and factories are cutting production — a red flag for the region’s climate goals and risk of job cuts after Tesla’s mass layoffs this week.
Without subsidies, the cost of EV ownership no longer makes sense for many drivers. Insurance and repairs are more expensive than for combustion-engine cars, and many would-be customers still bristle at limited charging infrastructure. At the same time, rapid technological advances and Tesla’s price war are causing resale values to plummet, putting ownership further out of reach.
“We are losing momentum,” said Mattias Bergman, chief executive officer of auto industry group Mobility Sweden, where sales slumped by nearly a fifth during the first quarter. “The market is no longer growing, and the share of electric cars in the market is actually decreasing.”
In Ireland, electric vehicle sales in March were down on the same month last year. It was the fourth month out of the last seven where there was a year-on-year decline in electric vehicle sales.
“People just don’t earn enough to buy these cars,” said Laurent Favre, CEO of French auto-part supplier OPmobility. “There’s a gap between supply and demand and it’s normal that the subsidies won’t last forever. Reality is catching up with us.”
(Excerpt) Read more at irishexaminer.com ...
My Diesel Passat got fabulous mileage when I lived in Germany. No way an EV would ever break even.
EVs the disposable razor of transport , use it and throw it away because no one wants it
Interesting how the EV Fanatics here seem to be a LOT QUIETER these days, now that what they’ve always known is starting to get out.
painful proof the market isn’t ready to stand on its own, putting governments on notice for more support until affordable EVs become a reality.
EV’s are not ready for prime time and most consumers realize it. Also, maybe Europeans are getting tired of the green nutjobs and like to stick it to them.
Soviet-style government planning always works well!
“Climate goals” — set without any scientific understanding by political ignoramuses who are helping their buddies get rich on the climate scam and taking kickbacks and campaign donations from the same buddies...all at the expense of hard-working tax slaves generally too stupid to know what is really going on.
The new 2025 Camry hybrid gets 50 mpg city/53 highway fo low 30 grand.
Will probably last forever to boot.
EVs are kind of like Red Light Cameras - initially the people think that they’re great, as they’ll catch people zipping through red lights. And they do, but they also are intended to make money for their operators and the city, so the other 98% of people they catch are the ones who don’t come to a full stop, behind the line, before making a right turn on red. Eventually enough tickets are issued and people get angry, knowing the way that THEY DRIVE makes them a ‘revenue engine’ (a little Rick Perry Toll Road terminology) for the operators and city hall.
The Charging infrastructure makes people very mad there is none or it doesn’t work or it’s really expensive to change and the companies running the stations say they’re losing money ,D’oh
Check out post 14
This guy has figured it out. Europe is being impoverished. Without lots of government printed money, debt, and the force of Government mandates, its not a real market.
People say the governments that push EVs should be using EVs but that would be a waste of taxpayer money ,LOL
EV’s are part of the WEF attempt to take globalist control.
The climate change stuff started in the late 60’s after the precursor to the WEF, Club of Rome, started “The Ice Age Is Coming!!!”
Check out the carbon footprint for making an EV battery. It’s huge and this is just Marxist propaganda.
“Will probably last forever to boot.
“
Except for the battery.
Someone is forgetting that the government is there to serve the people, not the people to serve the government.
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