Europe's Love Affair with Electric Cars Wanes as Sales Plunge [Yahoo! Finance]
Stellantis N.V. Common Shares (STLA)
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Source: Yahoo! Finance
Sales of Volkswagen's electric vehicles have declined by nearly 25% in Europe , with a noticeable shift back to gasoline-powered cars amid waning interest in battery-operated models, the report says. It notes that the downturn, observed in the initial quarter of the year, is attributed to heightened inflation and escalating energy costs, which have cooled consumer enthusiasm for electric cars. Worldwide, Volkswagen, which also owns brands like Audi, Skoda, and Porsche, saw a 3% decrease in electric vehicle sales, totaling 136,400 units. In contrast, sales of traditional combustion engine vehicles rose by 4%, approaching two million units. The report notes that demand for electric vehicles has dipped as governments in Europe reduce subsidies and soften ambitious goals to phase out petrol and diesel cars. In the UK, Prime Minister Rishi Sunak delayed the prohibition of new petrol and diesel sales from 2030 to 2035 and removed incentives for new EV purchases last year. Despite Vol
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STLA
Sec Filings
- 4/26/24 - Form 6-K
- 4/24/24 - Form 4
- 4/24/24 - Form 4
- STLA's page on the SEC website