{"id":1491045,"date":"2024-09-20T08:15:00","date_gmt":"2024-09-20T12:15:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1491045"},"modified":"2024-09-20T08:15:00","modified_gmt":"2024-09-20T12:15:00","slug":"ev-demand-in-germany-crashes-69","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/ev-demand-in-germany-crashes-69\/1491045\/","title":{"rendered":"EV Demand In Germany Crashes 69%"},"content":{"rendered":"<p><span class=\"field field--name-title field--type-string field--label-hidden\">EV Demand In Germany Crashes 69%<\/span><\/p>\n<div class=\"clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item\">\n<p>Germany is sliding toward a recession, with the latest indicator flashing bright red. According to the European Automobile Manufacturers&#8217; Association (ACEA), <a href=\"https:\/\/www.acea.auto\/press-release\/european-auto-industry-calls-for-urgent-action-as-demand-for-evs-declines\/\">new August data<\/a> show that the demand for electric vehicles crashed.\u00a0<\/p>\n<p>ACEA reported a 69% plunge in EV deliveries in Germany last month, with just over 27,000. Across the region, there was a 36% drop. Sliding demand comes after Germany slashed incentives, making EVs less affordable for the working class.\u00a0\u00a0<\/p>\n<p><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-09-19\/germany-s-slump-in-ev-sales-drags-on-europe-s-auto-market\">Bloomberg&#8217;s<\/a> visual on the EV crash in Germany last month provides an ominous reality for the EV space and highlights troubles mounting for Europe&#8217;s largest economy.\u00a0<\/p>\n<p><a href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/2024-09-19_07-23-18.png?itok=sZqu7AEO\"><em>Source: Bloomberg<\/em><\/a><\/p>\n<p>Across the continent, new car\u00a0registrations tumbled 16.5% compared to a year ago.<\/p>\n<p><a href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/2024-09-19_07-37-12.png?itok=nJ6_zCeu\"><em>Source: Bloomberg<\/em><\/a><\/p>\n<p>&#8220;The downturn in EVs is putting carmakers like VW and Renault SA at risk of hefty fines as tighter European Union fleet-emissions rules are set to kick in next year,&#8221; Bloomberg noted.\u00a0<\/p>\n<p>ACEA warned, &#8220;A continuous trend of shrinking market share for battery electric cars in the EU sends an extremely worrying signal to industry and policymakers,&#8221; adding automakers across the bloc must &#8220;call on the EU institutions to come forward with urgent relief measures before new CO2 targets for cars and vans come into effect.&#8221;\u00a0<\/p>\n<p>The slump in new EV sales could derail the EU&#8217;s zero-emission deadlines in the coming years.\u00a0This has also pressured Volkswagen to consider <a href=\"https:\/\/www.zerohedge.com\/markets\/volkswagen-considers-first-ever-germany-factory-closures-economic-troubles-mount\">closing factories<\/a> for the first time ever.<\/p>\n<p>Furthermore, the timing of the EV downturn in the EU comes as Germany&#8217;s economy may already be in a recession.\u00a0<\/p>\n<p>The\u00a0Bundesbank said Thursday that &#8220;the German economy is still navigating choppy waters,&#8221; adding that the third quarter has been a very &#8220;weak start&#8221; for\u00a0manufacturing and construction and\u00a0disappointing household spending.\u00a0<\/p>\n<\/div>\n<p>      <span class=\"field field--name-uid field--type-entity-reference field--label-hidden\"><a title=\"View user profile.\" href=\"https:\/\/cms.zerohedge.com\/users\/tyler-durden\" class=\"username\">Tyler Durden<\/a><\/span><br \/>\n<span class=\"field field--name-created field--type-created field--label-hidden\">Fri, 09\/20\/2024 &#8211; 04:15<\/span><\/p>\n<p>\u200b<a href=\"https:\/\/www.zerohedge.com\/markets\/ev-demand-germany-crashes-69\" target=\"_blank\" class=\"\" rel=\"noopener\">https:\/\/www.zerohedge.com\/markets\/ev-demand-germany-crashes-69<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EV Demand In Germany Crashes 69% Germany is sliding toward a recession, with the latest indicator flashing bright red. According to the European Automobile Manufacturers&#8217;&#8230;<\/p>\n","protected":false},"author":0,"featured_media":1491046,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1491045","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1491045","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1491045"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1491045\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1491046"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1491045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1491045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1491045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}