Hyperdrive
Electric Car Sales Plummet 37% in Germany as Slump Deepens
- July registrations show no signs of recovery after subsidy cut
- Carmakers cut back production as EV demand disappoints
A Volkswagen AG ID.3 EV charges outside a showroom in Dortmund.
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
Germany’s electric-vehicle sales slumped in July, extending a broad pullback since incentives ended late last year and undermining automakers’ plans in the EV shift.
Registrations of battery-powered cars fell 37% in Europe’s biggest auto market to 30,762 vehicles, Germany’s federal motor transport authority KBA said Monday. It’s the biggest drop since December, when the German government suddenly scrapped EV subsidies. Sales of vehicles without a plug gained 7%.