I wonder why you think this is more a lack of consumer preferences than government policy. You are right that sticker prices are going down, but I would say the real factor is how governments have restricted or pulled subsidies for EVs. In reality in some countries the cost of buying an EV is going up.
Germany the biggest market in the EU pulled all subsidies in December 2023. Another country pulling all subsidies is Sweden which lowered sales. France restricted subsidies to exclude cars produced in China.
Including inflation and higher interest rates in to the equation EVs have possibly lost on pricing in many EU markets. I would also say lack of charging infrastructure is a big factor rather than consumer preferences. Compare the development of EV sales in Norway, Denmark and Sweden and you could see different patterns depending on government policies on subsidies and infrastructure rather than consumer preferences.
There have been a couple of purchase subsidies recently for NEVs in China, but it's mostly been free of that in the past year. The biggest driver imo is just NEV makers lowering prices below ICE
Yes I think you are right that lower prices is driving sales in China, and I think higher prices is why European EV sales are stagnating in some big markets while increasing in others.
Interesting trends. Unlike either US, and I suspect much less than China, EU was traumatized by recent spikes in electricity cost. Here's the wholesale spot prices ... https://ember-climate.org/data/data-tools/europe-power-prices/ ... bearing in mind (1) that most trade is not done on the day-ahead commodities exchange whose prices are shown here so it's exaggerated, but still... (2) consumers are buffered against this also by their governments, though a commercial charging station network perhaps not
I wonder why you think this is more a lack of consumer preferences than government policy. You are right that sticker prices are going down, but I would say the real factor is how governments have restricted or pulled subsidies for EVs. In reality in some countries the cost of buying an EV is going up.
Germany the biggest market in the EU pulled all subsidies in December 2023. Another country pulling all subsidies is Sweden which lowered sales. France restricted subsidies to exclude cars produced in China.
Including inflation and higher interest rates in to the equation EVs have possibly lost on pricing in many EU markets. I would also say lack of charging infrastructure is a big factor rather than consumer preferences. Compare the development of EV sales in Norway, Denmark and Sweden and you could see different patterns depending on government policies on subsidies and infrastructure rather than consumer preferences.
There have been a couple of purchase subsidies recently for NEVs in China, but it's mostly been free of that in the past year. The biggest driver imo is just NEV makers lowering prices below ICE
Yes I think you are right that lower prices is driving sales in China, and I think higher prices is why European EV sales are stagnating in some big markets while increasing in others.
Interesting trends. Unlike either US, and I suspect much less than China, EU was traumatized by recent spikes in electricity cost. Here's the wholesale spot prices ... https://ember-climate.org/data/data-tools/europe-power-prices/ ... bearing in mind (1) that most trade is not done on the day-ahead commodities exchange whose prices are shown here so it's exaggerated, but still... (2) consumers are buffered against this also by their governments, though a commercial charging station network perhaps not