Electric powered motor vehicle product sales plummet this year, as company motor vehicle tax rises

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The sale of electrical automobiles virtually halved in the very first a few months of this yr, following modifications in the tax guidelines for enterprise cars and trucks, car or truck association RAI has explained to BNR radio.

In full, 4,545 electric powered vehicles have been marketed in the initially 3 months of the 12 months, down 48% on the similar time period in 2020.

The downturn normally takes the share of electrical vehicles in the countrywide fleet to just 5.6%, down from 8.5% a year earlier.

In 2020, enterprise car or truck motorists had to pay back earnings tax on 8% of the benefit of much less expensive electric powered autos, but that has long gone up to 12% this year.  For firm cars and trucks truly worth in excess of €40,000, the insert-on is 22%, the exact same as for diesel-run vehicles.

In 2019, when electric motor vehicle gross sales soared, the tax was just 4%.

Additional plug-in hybrids had been sold final year, and they now account for 9.5% of the car market place. Hybrids are taxed at the same charge as diesel automobiles.

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