Demand for electric cars crashes – Inside Paradeplatz

Hundreds of billions of euros in funding have flowed into electromobility over the last 10 years.

Thanks to “start-up financing”, millions of electric cars were to be put on the road and the end of gasoline cars was to be initiated.

State general planners distributed money on a large scale. As with other subsidy orgies, Germany was once again a pioneer.

Up to 30,000 euros per Tesla was given away.

Although the German car industry produced the best petrol and diesel engines in the world and was an absolute flagship, the change was made unnecessarily.

The costs are just so high.

The collapse of an entire industry was risked in order to “fight climate change”.

And now an entire sector in Germany is on the brink of collapse.

Yesterday, the European auto industry stated that the declining market share of European manufacturers in the electric car market was an “extremely worrying signal” and called for “urgent action”.

On Friday, Mercedes-Benz issued a profit warning.

Share: Minus 7%.

The shares of other German and European car companies are not doing much better.

In stark contrast, Tesla and the Chinese manufacturer BYD are riding a wave of success.

The difference in market capitalization is small. Mercedes: 60 billion euros. Tesla: 780 billion dollars.

Elon Musk's company is worth eleven and a half times more than the historic company Mercedes.

At the beginning of the year, the ADAC predicted that the consequences of a German ban on subsidies for electric cars on the e-car market were “unforeseeable”.

At the latest now, with the data on new registrations from August 2024, the decline in demand for electric cars in Germany is visible to everyone.

Some car manufacturers are betting all their money on electromobility. Volvo is particularly aggressive.

The company plans that 90 to 100% of the cars sold in 2030 will be electric cars. And now?

The CEO sheepishly admits: “The transition to electromobility is complex.”

An absolute disaster. Does the European auto sector need a bailout?