Hybrid & Electric cars on the rise in Europe

Hybrid and electric car sales soared last month taking the total sales to its highest in 10 months. Total sales were down 4% from last year to 1.28 million, yet plug in hybrids quadrupled while electric vehicles more than doubled.

The recent increase in hybrid and electric sales is in part due to more choice on the market, increasing competition and decreasing prices, but also government subsidies such as in germany. Electric vehicles costing under €40,000 already received €6,000 in deductions, and a new €3,000 deduction has recently been added for electric vehicles, making the final deduction €9,000.

It is reported that Tesla is losing out in Europe in part due to the continued production in California, but also due to increased competition in Europe. Jato Dynamics estimates that only 1,000 Teslas were sold last month, but this should change as the new factory in Brandenburg is planned to open in 2021.

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