Europe calls for help as electric vehicle sales fall

Sales of new electric vehicles (EVs) remained weak across Europe in August 2024, hampered by incentive uncertainty, hefty price tags, and residual value concerns.

Data from Jato Dynamics puts the total number of EV sales within the EU-28 at 125,070 units for the month, down 36% year-on-year. That marks the largest decline for the segment since registrations were first recorded back in January 2017. August’s total gives EVs a 16.6% market share, the highest so far in 2024 but down from 21.8% in the same month last year.  “While [EV] market share has risen from previous years, the increase is not as large as we would expect given the significant amount of time that has passed,” noted Felipe Munoz, Global Analyst at Jato Dynamics.