Germany's 69% slump in August EV sales drags on Europe's auto market

In August, electric vehicle (EV) sales in Germany dropped by 69%, causing a decline in overall European car sales. The European Automobile Manufacturers’ Association reported that just over 27,000 EVs were delivered, down from previous highs. This downturn comes amid economic challenges, including rising living costs, which have made EVs less attractive.

The market share for battery cars in Europe fell from 15% last year to 14%. Automakers like Volkswagen and BMW are facing challenges with tighter EU emissions rules and falling sales. Constantin Gall from EY noted, "Germany’s economy isn’t gaining momentum and consumers as well as investors are holding back."

MORE: Germany's largest car manufacturer Volkswagen is reportedly planning to cut up to 30,000 jobs, Manager-Magazin reports.