According to the data released by the European Automobile Manufacturers Association (ACEA), as of November, the automobile sales in the European market (including the European Union, the European Free Trade Association and the British market) reached 1.08 million, up 6% year-on-year, and maintained growth for 16 consecutive months. It is worth noting that pure electric vehicles account for 17% of the total sales.
Bloomberg’s forecast for the European auto market shows that the sales growth rate this year is expected to reach double digits, about 14%. However, the market still faces multiple risks, including the overall economic downturn, the gradual reduction of subsidies and the imperfect infrastructure, which have led to a weakening trend in consumer demand for electric vehicles.
ACEA said that the slowdown in inflation has increased the willingness of some consumers to buy cars, and the previous backlog of new car orders is being released, and most automakers still have sufficient orders. Specifically, in November, Volkswagen sales increased by 9.2%, Renault increased by 6.5%, and Stellantis decreased by 2.8%. In order to meet the market demand, automobile manufacturers plan to introduce entry-level electric vehicles that are more cost-effective and meet the needs of the European market.
However, in the face of changes in the consumption demand of electric vehicles, automobile manufacturers are also worried. Audi plans to reduce the speed and quantity of electric vehicles to avoid putting too much pressure on manufacturers and dealers. In addition, policy adjustments such as Germany’s early termination of the subsidy plan for electric vehicles and Britain’s postponement of the ban on the sale of traditional fuel vehicles are also affecting market trends. Citibank analysts pointed out that if the EU does not adjust its support policies in time, it may be difficult for automakers to quickly launch electric vehicles that are more in line with market demand, thus affecting the realization of the EU’s plan of “selling 30 million electric vehicles by 2030″.
Post time: Dec-22-2023