Home Gadgets Why do France and Portugal double Spain’s electric car sales?

Why do France and Portugal double Spain’s electric car sales?

0
Why do France and Portugal double Spain’s electric car sales?

[ad_1]

Statistics indicate that Spain is falling behind its European neighbours when it comes to embracing electric cars as a greener alternative to traditional vehicles.

Recent data suggests that while countries like Portugal and France are making significant strides in electric car adoption, Spain is trailing behind, with electrified vehicle market share hovering at just 12 per cent.

Fit for 55

The European Union has set ambitious targets to reduce emissions from all cars sold by 55 per cent by 2030 and eventually eliminate the sale of combustion engine vehicles by 2035, with exceptions for those using synthetic fuels.

To achieve these goals, European governments are leveraging fiscal incentives to encourage the transition to electric vehicles, addressing the price gap between electric and traditional cars.

Portugal’s business-focused approach

Despite having a per capita income 20 per cent lower than Spain, Portugal has emerged as a leader in electric vehicle adoption, nearly tripling its electric vehicle sales compared to Spain.

The key to Portugal’s success lies in its tax incentives for businesses to upgrade their fleets with cleaner vehicles. Buyers are exempt from registration tax and can deduct VAT in their income tax returns, streamlining the economic benefits.

Furthermore, the bureaucracy surrounding these incentives is less cumbersome, ensuring a smooth process for Portuguese consumers.

France’s focus on European manufacturers

In contrast, France has crafted its electric vehicle policy to support European manufacturers over Chinese ones.

Stricter standards regarding CO2 emissions during manufacturing favour vehicles produced within Europe.

Approximately 65 per cent of the French market is eligible for government incentives, including an eco-friendly bonus ranging from €5,000 to €7,000 for electric cars priced below €47,000.

Additionally, a financial support programme for low-income households opting for electric vehicle rentals was introduced in early 2024, offering subsidies of €100 to €150 per month for three years.

Norway’s electric car success

Norway stands as a remarkable success story in the electric car sector, with over 80 per cent of its vehicles being electric, and Tesla capturing a significant market share.

Norway’s generous tax support, exempting buyers from VAT and registration and environmental taxes, drove this adoption.

However, the government is now grappling with a substantial loss of tax revenue, prompting the introduction of a weight tax for electric car owners to recover some of the funds.

Challenges for Spain’s electric car market

The Spanish electric car market is at a crossroads, lagging behind its European counterparts. To boost electric vehicle adoption and meet EU emissions targets, Spain must consider implementing new fiscal measures.

Such measures would include revamping existing programmes like Moves III, and focusing on rejuvenating the country’s vehicle fleet.

While Spain may be trailing in electric car adoption compared to its European peers like Portugal and France, there are valuable lessons to be learned from their successful approaches.

With ambitious EU targets and environmental concerns driving the shift towards electric vehicles, many experts maintain that Spain must rethink its strategy and incentivise citizens to embrace a greener future on the road.

Thank you for taking the time to read this article. Do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram.



[ad_2]

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here