The EU plan to boost EVs by slashing the sale of new ICE cars by 2030 and eliminate them by 2035 is facing increasing pressure and the targets look elusive.
The slowdown in European EV sales will soon be seen as a temporary blip as they accelerate again, but probably not enough to come even close to EU CO2 inspired targets.
Automakers were in the Paris show spotlight but threats from a weakening market, China, CO2 regulations and profit warnings will have worried investors.
Sales forecasts for electric vehicle sales are being cut, raising questions about government quotas. BMW, at the Paris show, wants EU CO2 emissions rules eased.
EV advocates say shortcomings like inadequate range have been eliminated but the latest models show that is not the case. Manufacturers need to publish autoroute range.
Volkswagen’s shares were hammered after its profit warning. One analyst saw an overreaction, while others expected more problems from its restructuring program.
Europe's auto makers face challenges as electric cars stall, overall sales weaken, profits fall, plant closures loom, and challenges mount from China’s cheaper EVs.