Germany unveiled sweeping incentives for cheap electric cars and for hybrid vehicles, providing a boost to Volkswagen's electric push while staggered taxes for polluting combustion-engined cars will penalise sports utility vehicles.
BERLIN/FRANKFURT - Germany unveiled sweeping incentives for cheap electric cars and for hybrid vehicles, providing a boost to Volkswagen’s electric push while staggered taxes for polluting combustion-engined cars will penalise sports utility vehicles.
Buyer incentives for passenger cars, including a lowering of value added tax to 16% from 19% were included as part of a 130 billion euro stimulus package to speed up Germany’s recovery from the coronavirus. This brings consumer incentives for electric cars to 9,000 euros once a 3,000 euro manufacturer stipend is included, but the 40,000 price threshold means premium carmakers like BMW, Mercedes, and even Tesla are not eligible for the full amount.
The stimulus will benefit mainly cheaper electric cars like Kia’s e-Niro, which starts at 34,290 euros while VW’s new ID3 model will cost 29,990 euros when it launches this summer. Peugeot’s e-208 GT, costing 36,600 euros, will also benefit.
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