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EU to zero rate EV VAT

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    #32
    Round Cable
    Registered Users Posts: 824 ✭✭✭Round Cable


    Kramer wrote: »
    A Model 3 SR+ (cheapest Model 3 here) is under €36k after removal of all VAT & VRT, so there's still €12k tax included in the €48k purchase price.
    That's still 25% & doesn't include the non-eu tariff - is that 10%?

    It is indeed 10%, imagine how competitive Tesla would be in Europe without it. It would make a 62kWh Nissan Leaf Tekna about the same price as a Tesla Model 3 SR+.


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    #33
    liamog
    Moderators, Motoring & Transport Moderators, Regional East Moderators Posts: 7,822 Mod ✭✭✭✭liamog


    Round Cable wrote: »
    It is indeed 10%, imagine how competitive Tesla would be in Europe without it. It would make a 62kWh Nissan Leaf Tekna about the same price as a Tesla Model 3 SR+.

    I expect it would be near enough the same price and they'd just increase the margin. We've seen how Tesla behaved during the phase out of the US federal incentive, they reduced the car price a couple of times to meet the new price point.


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    #34
    liamog
    Moderators, Motoring & Transport Moderators, Regional East Moderators Posts: 7,822 Mod ✭✭✭✭liamog


    So it looks the commision proposal will be detailed on the 27th. It comes as part of a general "Green Deal" programme which is designed to pump half a trillion Euro into the economy.
    Particularly of interest to this forume should be the following
    • 60 billion euros to 80 billion euros to boost electric vehicle sales and a doubling of investment in charging networks
    • Option to exempt electric vehicles from VAT

    Other incentives
    • 91 billion euros a year in grants and guarantees for sealing up drafty buildings - including plans to offer home buyers green mortgages
    • 10 billion euros to leverage finance for 7.5 gigawatts of new renewable energy projects over the next 2 years
    • 10 billion euros a year in a fund administered by the European Investment Bank to boost renewables and hydrogen infrastructure
    • As much as 30 billion euros from the EU’s existing Innovation Fund for the development of green hydrogen that can curb emissions in some of the hardest to tackle industries, like steel and cement making

    https://www.bloomberg.com/news/articles/2020-05-20/eu-to-unveil-world-s-greenest-virus-recovery-package?utm_source=newsletter&utm_medium=email&utm_campaign=newsletter_axiosgenerate&stream=top


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    #35
    Lumen
    Registered Users Posts: 31,020 ✭✭✭✭Lumen


    unkel wrote: »
    Nice rant, but you're not on the ball for electric cars here :p

    A €48k Model 3 brings in feck all in revenue. Just a few grand in VRT / VAT after the €10k subsidy. And then the tax payer has to further subsidise the owner with €600 for the charge point install and then subsidies for tolls, on top of just the very minimum motor tax (just about half that of an old 1l Nissan Micra)

    And of course the thousands then missed every year in excise duty that was on fossil fuels but is not on electricity

    EV is loss making for the tax payer at the moment...

    It depends on your definition of "loss".

    My Model 3 LR contributed over 10k of VAT and VRT. That is only a loss compared to me spending the same on an ICE car, which was never a possibility. But I might well have spent the money on foreign holidays, which would have brought in almost zero, or left it in the bank, which would contribute exactly zero to the exchequer.

    There's also the 10% import duty.


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