Germany's rate of drivers switching from internal-combustion cars to EVs hit a
record in Q1 after the government introduced a subsidy of up to €6,000 (about
$6,967) per new car, insurer HUK-COBURG said on Thursday. The share swapping
rose to 7.5% from 6.3% in the prior quarter, the highest since the survey began
in early 2020. About one-fifth of respondents said the new STATE AID directly
influenced their purchase decision and just over 10% said the subsidy made them
consider an EV for the first time. Chancellor MERZ's coalition has introduced a
€3bn purchase-and-lease incentive for zero-emission vehicles running from the
start of this year through 2029, aimed mainly at middle- and low-income
households.
