EV Sales Weak In US, Terrible In Europe
EV sales rose 21% worldwide in July to 1.35 million, almost exclusively because of China. This included fully electric and plug-in hybrid vehicles, which accounted for 880,000 of the increase.
EV sales rose a very modest 7.1% in the US and Canada. They dropped 7.8% in Europe and 12% in Germany, the region’s largest car market.
The news is grim for U and European-based car makers. They have little, if any, of the China market. They are up against Tesla and a few models made by legacy manufacturers.
Europe Weakness
Sales in Europe could continue to fall. Attacvity, inexpensive EVs from China are being boxed out by tariffs. The same is true in the US.
EVs continue to wrestle with price, range, and the number of charging stations. Cold weather can also limit charge levels to 70% of battery capacity. EVs wear tires more quickly because of their acceleration.
There will be a long wait for legacy car makers who plan to profit from EV buyers in Europe and the US.
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