European electric vehicle market struggles with reduced incentives and trade tensions, impacting automakers like Volkswagen

From Nasdaq: 2024-08-30 11:38:00

The European electric vehicle market is struggling with reduced incentives, lack of affordable models, and charging infrastructure issues. Germany’s BEV registrations dropped by 10.8% in July 2024, reducing market share to 12.1%. The decline is attributed to the end of EV subsidies, economic pressures, and trade tensions with China affecting the industry.

With reduced incentives and trade tensions impacting the European EV market, automakers like Volkswagen and Stellantis are feeling the squeeze. Sales forecasts have been cut as analysts revise down projections for future EV sales in Europe. The industry faces challenges, but success hinges on adaptation to changing conditions by stakeholders.

Explore potential investment opportunities with 5 handpicked stocks set to double in 2024, as recommended by Zacks. These under-the-radar picks could offer significant returns. Get in on the ground floor and maximize your investment potential. For the latest stock recommendations and analysis, turn to Zacks Investment Research for expert insights and guidance.



Read more at Nasdaq: Europe’s BEV Sector Slows Amid Economic & Regulatory Challenges