EV sales in Europe hit a speed bump — and the US should be worried too

• Electric cars have hit a major speed bump in Europe.
• According to industry data, EV sales fell 44% in August as demand cooled across the continent.
• Experts told BI a lack of affordable cars and a patchwork supply chain were to blame.

Europe is facing plunging sales of electric vehicles — and the continent's struggles are a warning sign for the US.

Registrations fell by nearly 44% in August compared with the same month last year, according to the European Automobile Manufacturers' Association. The slump was driven by a 69% decline in Germany, Europe's biggest car market and economy.

The cooling demand has led to questions over whether European automakers can meet the European Union's ambitious climate goals, which require all new cars to be zero-emission by 2035.