Europe's Love Affair with Electric Cars Wanes as Sales Plunge

Europe is 'returning to petrol', according to a new article from Yahoo Finance which highlighted Volkswagen's EV sales as the canary in the coalmine. Sales of Volkswagen's electric vehicles have declined by nearly 25% in Europe, with a noticeable shift back to gasoline-powered cars amid waning interest in battery-operated models, the report says.

Additionally, competition is intensifying with cheaper, subsidy-backed Chinese EVs entering the market. Despite a significant drop in European EV sales, Volkswagen reported a 91% increase in China. Other manufacturers like BMW and Stellantis are also adjusting their electric vehicle strategies amid fluctuating consumer interest.

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