The automotive industry in Europe risks multi-billion fines as they will not be able to meet the tightened emission regulations that come into force in the EU in 2025, warns ACEA. They are now demanding that the regulatory framework be reviewed immediately. They also want the EU to reconsider its goal of banning fossil-fuelled cars in new car sales by 2035.
According to ACEA's board, the EU's automotive industry is facing a choice between taking fines of billions of kronor or drastically reducing production, laying off staff and weakening the European automotive industry's supply chains.
"Self-destructive behavior"
Similar demands have previously been made by member states such as Germany and Italy.
Italian Prime Minister Giorgia Meloni described the goal of completely phasing out fossil-fuelled cars by 2035 as "self-destructive behavior" in a statement on Wednesday.
The green transition must not mean that thousands of jobs disappear or the dismantling of entire industry segments that create welfare and employment, said Meloni in a speech to the Italian industry organization Confindustria, according to Financial Times.
New car registrations in the EU fell sharply in August, down 18.3 percent compared to August last year, according to the industry organization ACEA.
Battery-powered electric cars took the biggest hit, with a collapse of minus 43.9 percent to a total of 92,627 cars. This can be compared to 165,204 battery-powered electric cars among the newly registered cars in August last year.
Down 69 percent in Germany
The share of battery-powered electric cars in new car registrations fell to 14.4 percent, down from 21.0 percent a year earlier.
The decline in battery-powered electric cars has been going on for four months in a row.
Plug-in hybrids are also on the decline, but not as dramatically. The decline was 22.3 percent in August, giving a market share of just over 7 percent.
The decline in new car registrations was particularly noticeable in the two largest economies. In France, they fell by 24.3 percent, in Germany by 27.8 percent.
The decline in battery-powered electric cars in Germany in August was 69 percent – and major car manufacturers such as BMW and Volkswagen have issued profit warnings and flagged factory closures, respectively.
