Germany Ends Electric Vehicle Subsidies Immediately!
Here’s a big surprise and this is going to shock the globe Germany ends its electric vehicle subsidies immediately so Germany has decided to end its electric vehicle subsidies on Wednesday December 13th suddenly and German leaders announced the ending of these subsidies due to the 2024 budget constraints but there is more to the
Picture so initially there was an environmental purchase premium for ecars as they call them for €6,000 that’s about $ 6555 one of the foremost proponents of the e-mobility in Germany or the push for electric cars has now fully backtracked Professor Ferdinand dudenhofer Germany’s leading automotive analyst and he is a very well-known
Person in Europe just posted on LinkedIn and quote that’s it for EVS in Germany it’s good if you haven’t written off the combustion engines I was entirely wrong on the Fatherland first I give him credit for admitting he was wrong not too many people do that these days but
Germany has killed the 4,500 Euro EV subsidy as of that day and because of the government’s budget rules they found it unconstitutional from the German Supreme Court and they needed to cut the subsidies also because of budget so they did it immediately Germany has been on the Forefront of electrification since
Former Chancellor Angela Merkel proclaimed her support German brands have aggressively pushed for the transformation but customers haven’t followed along because of the high cost the reduced utility and the hidden environmental impacts of EV stated Yan Miner who is the chairman emeritus of the World Car of the Year Awards in
Quote EV sales have been a massive disappointment in Europe and it seems that the pundits and the politicians are moving away from it as fast as they can I’m not surprised considering it’s an inferior product close quote at the end of December 17th 2023 a new application for the environmental bonus can be
Submitted stated the German Ministry of economic Affairs and climate protection but there’s no guarantee the be any money and that environmental bonus was introduced by the grand Coalition in 2016 and since then a total of about 10 billion EUR has been paid out or 2.1 million electric vehicles but this is a
Huge change because now those in favor of the subsidy stated that this decision is a blow to the mobility turnaround and the climate protection with the abrupt capping of the promotion of e-cars said the minister of economic Affairs it’s torpedoed the acceptance of electric vehicles in Germany Germany’s move comes
Amid tighter restrictions on electric vehicles in France as of December 15th France effectively limited EV subsidies for up to €7,000 that’s about $7,600 us to electric cars made in Europe Chinese made Vehicles including the Tesla Model 3 are no longer eligible the Tesla Model y will still be eligible because Tesla
Makes the crossover in the Berlin area plant now here in the US there are fewer electric cars that will qualify for the federal tax credits in 2024 and purchases of the popular Vehicles like the Tesla Model 3 or the Ford Mach e may no longer entitle buyers to the tax
Savings because the cars do not meet the tougher sourcing requirements again more government intervention Tesla stated on its website that while customers who take delivery of a qualified new Tesla and meet all the federal requirements will be eligible for the $7,500 tax credit reductions are likely for certain
For vehicles in 2024 and you must take delivery by 123123 to qualify for that full $7,500 tax credit the treasury’s department December 1st update on the inflation reduction act credit rules involved in quote foreign entity of concern requirements which include China Russia North Korea Iran which impacts the tax credits for consumers other
Brands impacted include Ville where 79% of the company is owned by Chinese automaker gie which means some of the Ville models and its premium brand postar may be affected for the US tax credit even though they may be built here in the US the 2024 Volvo ex30
Electric SUV which we reviewed you can check that out up here will unfortunately not qualify and few models of the Audi Q5 BMW 330i BMW X5 Genesis gb70 electrified and the Volvo S60 no longer qualify for the EV tax credit General Motors brands that are built with the ultimum platform still are
Eligible and include the new blazer EV the Chevy Silverado EV which is coming out in late 2024 but what else is eligible for 24 there’s not that many vehicles actually there’s only 10 the Chevy Boldt EV coming in at the lowest price of $26,500 the Chevrolet Equinox
EV the Ford F-150 Lightning Tesla Model 3 Performance Chevrolet Silverado EV Tesla Model y performance the Chrysler Pacifica minivan the plug-in hybrid the Chevrolet Blazer EV the Cadillac lyric and the Tesla Model X that’s it so some EVS like the Mach e and the Nissan Leaf are only eligible for a partial credit
Of $3,750 and used vehicles have a maximum price of $25,000 can qualify for up to $4,000 that’s not many vehicles at all starting in 2024 the 40% critical mineral requirement increases to 50% and 60% in 2025 70% in 26 and 80% in 2027 the 50% battery component requirement increases
To 60% % in 2024 and 25 70% in 26 80% in 27 what does all this mean 100% in 2029 means that most likely zero Vehicles will be eligible so if you want that $7,500 tax credit and you got your ey on an electric car now is the time to buy
Before the year comes to an end this is what all of this really means every government not just Germany should get politicians out of people’s lives including deciding what kind of car they can manufacture and buy let the free market decide based on supply and demand
The consumer must be the king and the market must be free if you like this video give it a like And subscribe for more videos like this one if you have any questions or comments I sure you will I’ll be happy to answer you can
Support me by buying me a cup of coffee the link for that is in the description plus all the links for our website social media the book and the podcast I’m luren fix thank you so much for watching
Germany has decided to end its electric vehicle subsidy immediately. On Wednesday, December 13th, German leaders announced the ending of these subsidies due to 2024 budget concerns. There was an environmental purchase premium for e-cars of up to 6,000 euros ($6,555 US).
On of the foremost proponents of E-Mobility in Germany, has now fully backtracked: Professor Ferdinand Dudenhöffer, Germany’s leading automotive analyst, just posted on LinkedIn: “That’s it for the EVs in Germany; its good if you haven’t written off the combustion engines, I was entirely wrong on the fatherland.”
Germany has killed the subsidy because the government’s budget was rules unconstitutional by the German Supreme Court and they needed to cut subsidies wherever possible.
Germany has been of the forefront of electrification since former chancellor Angela Merkel proclaimed her support; German brands have aggressively pushed for the “transformation”, but customers haven’t followed along because of the high cost, the reduced utility and the hidden environmental impact of EV.s, stated Jens Meiner, chairman emeritus of WCOTY: “EV sales have been a massive disappointment in Europe and it seems that the pundits and politicians are moving away from it as fast as they can. I am not surprised, considering it’s an inferior product.”
“At the end of December 17, 2023, no new applications for the environmental bonus can be submitted..,” stated the German Minister of Economic Affairs and Climate Protection. The environmental bonus was introduced by the Grand Coalition in 2016. Since then, a total of around 10 billion euros has been paid out for 2.1 million electric vehicles.
Those in favor of the subsidy stated that, “This decision is a blow to the mobility turnaround and climate protection. With the abrupt capping of the promotion of e-cars, the Minister of Economic Affairs is torpedoing the acceptance of electric driving in Germany.”
Germany’s move comes amid tighter restrictions on EV subsidies in France. As of Dec. 15, France effectively limited EV subsidies of up to 7,000 euros ($7,636 US) to electric cars made in Europe. Chinese-made vehicles, including the Tesla Model 3, are no longer eligible. The Model Y will still be eligible because Tesla makes the crossover at its Berlin-area plant.
New Zealand’s EV purchase-subsidy program, the “Clean Car Rebate” stops at the end of 2023.
Here in the USA, there are fewer electric vehicles that will qualify for the federal tax credits. Purchases of popular models like the Tesla Model 3 and the Ford Mustang Mach-E may no longer entitle buyers to tax savings because the cars do not meet tougher sourcing requirements.
The Treasury Department’s Dec. 1 update on the Inflation Reduction Act credit rules involving “foreign entity of concern” requirements, which include China, Russia, North Korea, and Iran impacts the tax credits for consumers.
What is eligible for 2024, not that many vehicles, only 10 cars:
* Chevrolet Bolt EV
* Chevrolet Equinox EV
* Ford F-150 Lightning
* Tesla Model 3 Performance
* Chevrolet Silverado EV
* Tesla Model Y Performance
* Chrysler Pacifica PHEV
* Chevrolet Blazer EV
* Cadillac LYRIQ
* Tesla Model X
Starting in 2024, the 40% critical minerals requirement increases to 50%, then 60% in 2025, 70% in 2026 and 80% in 2027. The 50% battery components requirement increases to 60% in 2024 and 2025, 70% in 2026, 80% in 2027, 90% in 2028 and 100% in 2029.
Every government, not just Germany, should get politicians out of people’s lives, including deciding what kind of car they can manufacture and buy. Let the free market decide based on supply and demand. The consumer must be King, and the market must be free.
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#german Minister of Economic Affairs Sigmar Gabriel announced today that the country is ending all electric vehicle subsidies immediately!
