Electric car demand set to stall in Europe's 'valley of death'

Despite years of rapid growth, the electric car market in Europe seems to be experiencing a slowdown as drivers hold off on purchases, anticipating the arrival of better and more affordable models in the next two to three years. While fully-electric sales in Europe recorded a 47% increase in the first nine months of 2023, major automakers, including Tesla, Volkswagen, and Mercedes-Benz, are striking a more cautious tone instead of celebrating the apparent success.

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