By Jo Nova

Doubts are spreading about the “prospects of electric cars”

Sales of electric vehicles in Germany slumped 37% in July, compared to sales one year ago.

It’s not that people don’t want a new car, they just prefer a fossil fueled one. Sales of normal cars rose 7% in the same period.

Electric Car Sales Plummet 37% in Germany as Slump Deepens

By Wilfried Eckl-Dorna, Bloomberg

“The ramp-up of e-mobility is proving to be unsustainable so far,” Constantin Gall, a consultant at EY, said of the German sales results. “The market has lost all momentum and many customers doubt the prospects of electric cars.”

The slowdown leaves the auto industry exposed after investing billions in the ramp-up of the technology. VW, Europe’s biggest automaker, said last week it has cut capacity at high-cost plants in Germany and also might change the timing of its ramp-up in battery production.

EV’s made up 20% of new car sales in Germany this time last year, but that market share has now shrunk to 13%. This is not the way a raging new lifesaving technology takes over the planet.

In Sweden EV sales are down […]