ACEA calls for urgent electric vehicle stimulus
The ACEA (European Automobile Manufacturers Association) has issued an urgent call to regulators to introduce a stimulus package to revive flagging electric vehicle sales.
Year-to-date EV sales volumes in Europe are down 8.4% on last year, with market share falling from 13.9% to 12.6%.
The downward trend is expected to continue with only 16% of European non-EV owners considering making their next purchase electric, down from 18% in 2021, while almost 20% of current electric vehicle owners said to be likely or very likely to switch back to petrol or diesel.
The ACEA board stated: “We are missing crucial conditions to reach the necessary boost in production and adoption of zero-emission vehicles: charging and hydrogen refilling infrastructure, as well as a competitive manufacturing environment, affordable green energy, purchase and tax incentives, and a secure supply of raw materials, hydrogen and batteries. Economic growth, consumer acceptance, and trust in infrastructure have not developed sufficiently either.
“As a result, the zero-emission transition is highly challenging, with concerns about meeting the 2025 CO2 emission reduction targets for cars and vans on the rise. The current rules do not account for the profound shift in the geopolitical and economic climate over the past years and the law’s inherent inability to adjust for real-world developments further erodes the competitiveness of the sector.
“This raises the daunting prospect of either multi-billion-euro fines, which could otherwise be invested in the zero-emission transition, or unnecessary production cuts, job losses, and a weakened European supply and value chain at a time when we face fierce competition from other automaking regions.”
