As a former European Automotive correspondent for Reuters, I’ve a spent a few years writing about the industry. I will penetrate the corporate hype and bluster and find out how these gigantic enterprises are really doing. I also love to drive their magnificent machines, and their more modest ones. I’ll be telling you if the technology works, too.
Europe’s car buyers are retreating from the market, worried by high prices and a deteriorating financial background. As sales weaken, manufacturers, led bySales of electric vehicles have plateaued, just at the time they should be accelerating to meet European Union carbon dioxide elimination rules. Next year, the rules tighten, and are likely to precipitate a crisis.
Meanwhile, sales of sedans and SUVs in Europe are expected to slow to a growth of 4.6% in 2024 to 19.3 million, according to, which calls itself a Fitch Solutions company. In 2023, sales rose a robust 19.2%, as supply chain disruptions normalized allowing carmakers to catch up with a backlog.2024 Election: The Elephant In The Room -Kamala HarrisCopyright 2024 The Associated Press. All rights reserved.
“We have become increasingly cautious on the full-year result as vehicle prices remain high and interest rate cuts will be modest, even though monetary easing from the ECB has now begun. However, we continue to assume growth for 2024, having seen market expansion in the first half,” GlobalData said in a report.Germany is Europe’s biggest market for cars, and according to IFO Business Surveys, the business climate deteriorated slightly in June.
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