It is the first time sales have turned negative in the region amid concerns that motorists are not making the switch.
However, China is leading the way with car sales up a staggering 29 percent between January and August 2024.
It means the Asian superpower has now sold around six million models in 2024, compared to 1.9million across the whole of Europe and the UK.
The statistics revealed that China sold over one million EVs in August 2024 alone,
In comparison, more than 36,000 models were sold in the UK during the same period.
Across the UK and Europe combined, analysis from Rho Motion found that around 180,000 EVs were sold across August.
Charles Lester, Rho Motion Data Manager, said China’s EV sales figures were “just the beginning”.
He stressed the figure could be “reached multiple times before the end of the year” as sales tend to surge in the final months.
Charles seemed to suggest that a lack of incentives could be to blame with decision-makers rowing back on extras for those who switch.
He added: “Meanwhile, continued subsidy cuts and trade barriers in Europe are having a negative impact on sales which have shrunk for the first time for any region.
“The US & Canada are enjoying healthy sales growth rate with the outcome of the Presidential election set to have a major impact later this year.”
The concern is palpable in the UK with a range of carmakers now slashing prices across their EV range to entice potential buyers.
EV sales for the year to date are up just 10.5 per cent on 2023 figures which is a far lower rate than officials had predicted.
It has led the automotive trade body the Society of Motor Manufacturers and Traders (SMMT) to slash its sales forecast.
It now means just 18.5 percent of new vehicles hitting the road in 2024 will have battery technology.
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Publish date : 2024-10-15 00:31:00
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