Electric vehicle sales forecasts scaled back in Europe
European electric vehicle sales forecasts for 2025 have been downgraded after declining sales numbers in the second half of this year.
According to S&P Global, electric vehicles will make up 21% of new car sales next year.
This is revision of the 27% market share it predicted earlier in the year.
The new forecast reflects waning demand for electric vehicles throughout Europe amidst high prices and continued concerns around resale prices and charging infrastructure.
Sigrid de Vries, European Automobile Manufacturers’ Association (ACEA) director general, said: “The looming crisis necessitates urgent action. All indicators point to a stagnating EU electric vehicle market, at a time when acceleration is needed. Apart from the disproportionate compliance costs for EU manufacturers in 2025, the success of the entire road transport decarbonisation policy is at risk.
“We appreciate that several European Commissioners have emphasised regulatory predictability and stability in their confirmation hearings, but stability can’t be a goal in itself. Manufacturers have invested heavily and will continue doing so. Europe must stay on course of the green transformation by adopting a strategy that works.”
