[ad_1]
New registrations of electric cars have fallen sharply in Germany, and automakers are cutting production amid disappointing demand for electric vehicles, Bloomberg reports.
In Europe’s largest car market, registrations of electric cars fell 37% from last year to 30,762.
This was reportedly the biggest drop since the German government abruptly ended subsidies for electric cars in December. Sales of cars without plug sockets rose 7%.
A general slowdown in electric vehicle development across Europe and the withdrawal of incentives have prevented automakers such as Volkswagen from meeting production targets and stalled the overall transition to electric vehicles.
Wealthy and environmentally conscious buyers have more or less exhausted their potential, while a shortage of affordable battery models is pushing mass consumers out of the market.
The share of electric cars in German sales fell to just under 13% in July from 20% a year earlier, when carmakers were expecting demand for battery-powered cars to grow rapidly.
[ad_2]
Source link
