European car sales drop in May as drivers wait for cheaper EVs

High prices have become a major obstacle to EV growth in Europe after countries ceased or pared back subsidies

Automakers are grappling with slow EV sales as drivers are turned off by high sticker prices and subpar charging infrastructure. 

Carmakers in Europe sold 2.6% fewer vehicles in May than a year ago, as buyers balked at the still-high prices of electric models.

New-car registrations fell to 1.09 million units last month, the European Automobile Manufacturers’ Association said on Thursday.