Rising fuel prices increase interest in electric cars in Germany

The rise in petrol prices due to the Iran war has increased German customer interest in electric cars, the online platforms Carwow and Meinauto.de confirmed to dpa on Wednesday upon request.

"Rising oil prices are having a direct impact on interest in electric cars. Our data shows: Since February 28, the share of electric car set-ups has increased from 55% to up to 63% over the weekend," said Philipp Sayler von Amende, chief executive of Carwow Germany.

On average over the week, electric cars are at around 59%. He said this shows that many consumers are reacting to rising fuel costs.

Meinauto.de said it has recorded a significantly increased interest in topics related to cheaper driving. Offers and content on alternative fuels such as electric and E20, as well as guides on saving fuel, are currently being accessed more frequently than average, a spokesman said.

No decline in interest in mobility

While electric cars are gaining ground, traditional engines are slightly losing demand, according to Carwow.

"Petrol and diesel models together only account for around 23% of set-ups and are thus below the level of the end of February. Hybrids, on the other hand, remain relatively stable at about 15%," explained Carwow chief executive Sayler von Amende.

According to Meinauto.de, there is no overall decline in interest in mobility. However, when it comes to the specific purchase decision, there is a certain hesitation. "We are currently noticing that some interested parties are postponing their decision for a new car and are initially waiting to see how energy prices and the geopolitical situation develop," the spokesman stressed.

€1,500 to €6,000 subsidy

In January, the German Environment Ministry announced that private customers could again receive a state subsidy when purchasing pure electric cars, plug-in hybrids and electric cars with range extenders.

Depending on the type of vehicle and personal circumstances, it ranges between €1,500 and €6,000.

However, there are income limits up to which it is paid: €80,000 household income per year, or €90,000 with two children.

Carwow and Meinauto.de confirmed that customer interest surged shortly after the announcement of the new subsidy.