European Car Sales Jump 11% As Fuel Shock Drives EV Demand

[Hol]

European auto sales posted their strongest monthly gain in almost two years in March, as robust demand emerged for fully electric and hybrid models. The surge in demand follows the US-Iran conflict, which disrupted energy flows through the Hormuz chokepoint. As a result, petrol and diesel prices at the pump in Europe soared. Another issue is China flooding the continent with cheap EVs, undercutting already struggling domestic automakers.

Bloomberg cited new-vehicle registration data for last month showing an 11% rise to 1.58 million, as demand for EVs and hybrids continued to strengthen. EV deliveries jumped 42%, with growth across all major markets, including a 66% increase in German EV sales, driven by subsidies and more affordable models.

…

The problem with Europe is that Brussels had the grand idea of allowing Chinese brands such as BYD and Geely to flood the continent with cheap EVs, undercutting rivals such as VW, Porsche, and Mercedes.

Data for the month also showed that BYD more than doubled its European sales in March to 37,580 vehicles and is preparing to start production at its new plant in Hungary later this quarter. This means China's market share in Europe is increasingly growing.

Tesla also participated in last month's surge, with March registrations up 84% to 52,600, leaving it just ahead of BYD year-to-date.

European Car Sales Jump 11% As Fuel Shock Drives EV Demand <!-- --> | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[Tall Timbers]

It amazes me how fickle people are.

With China having permission to flood Europe with cars that cost less to purchase new, I'd say there's a good chance that European car manufacturing will take a huge hit. The question in my mind is what will the cost of ownership of these Chinese vehicles be? Chinese (mainland) made chips are notoriously prone to failure, so if these cars are full of computers... I'm guessing they're going to cost an arm and a leg before an owner finally parts with it.

I hope the USA permanently bans Chinese made vehicles, including ones that a person bought in another country and then wants to bring into the USA, not to protect US auto manufacturers, but to protect the consumer as well as national security considerations.

 

[mattfivefour]

Maybe the whole Iranian crisis is about forcing up the price of gasoline and driving people to buy EVs? It certainly fits the globalist climate agenda.