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

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.