The collapse of the EU battery car market
The latest August figures for the sales of battery cars in Europe show a big drop of 44%. The market share of battery cars has shrunk to just 14% with a fifth of those who bought one saying they may well switch back to petrol or diesel. The EU, like the U.K. was assuming battery cars would now be approaching a quarter of the market , with complete phase out of new petrol and diesel 2030 to 2035.
As some of us have been warning for years too many of us think battery cars are too dear, their range too limited, their recharging too difficult and their future likely to include new taxes to replace lost fuel duty. The second hand values are often poor causing depreciation problems for those financing peoples purchases. Hire companies report lack of demand with Hertz cutting back on its use of EVs.
The EU and the U.K. need to think again about their manic policy of ending their successful petrol and diesel car industries before there is a dominant market for battery cars and before the U.K./ European industry can make affordable ones to compete with the much cheaper Chinese products.The EU and US have ironically decided to impose heavy tariffs to try to stop people buying affordable Chinese vehicles, whilst the U.K. with its import everything government mentality welcomes cheap Chinese cars in to knock out our home manufacturers.
These latest figures show an urgent need to change policy and stop the attempted demolition of the existing vehicle industry.
Source: http://johnredwoodsdiary.com/2024/09/20/the-collapse-of-the-eu-battery-car-market/
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