Subsidy applications for new EVs are lagging behind
Subsidy applications are now significantly more frequent for the purchase or private lease of a used electric car than for a new one. This is evident from our monthly analysis of the figures from the Netherlands Enterprise Agency.
In recent months, an interesting trend can be observed in the way in which the SEPP subsidy pot is being emptied this year. The part of the subsidy budget that is intended to boost the sale of second-hand electric cars is running out considerably faster than the part that is supposed to stimulate the sale of new electric cars. Even more than in recent months, it is becoming clear that the ‘subsidy pots’ are emptying at completely different speeds.
Used electric car
The total SEPP subsidy pot was filled with €99.4 million this year. Of this, €32.4 was reserved to stimulate the sale or private lease of electric used cars with an original list price (tax value) of up to €45,000. On a used electric car in that category you can receive a compensation of €2,000 this year. Of the €32.4 million, €22.33 million has now been forgiven. That means 69 percent of the SEPP budget for used electric cars has been forgiven. On 20 July – more than a month ago – that percentage was still 55 percent. In about five weeks, the subsidy pot has thus become empty by 14 percentage points, while the difference between June and July was 7.4 percentage points.
A purchase subsidy has now been applied for for 11,165 used electric cars. Five weeks ago, that number was still 8,950 copies. Between the last time we took a closer look at the figures and now, 2,215 used EVs have applied for a SEPP subsidy. There is still €10.07 million left, good for 5,035 used electric cars. The subsidy pot for used EVs seems to be emptying faster and faster. Also in absolute numbers, more subsidy applications have now been submitted for used than for new EVs, as the following figures prove.
New electric car
Initially, €67 million was available this year to stimulate the sale or private lease of new electric cars with a fiscal value of up to €45,000. You can receive a €2,000 subsidy on a new EV in that category. Of the €67 million, €31.48 million has now been forgiven. So 47 percent. Last year around this time, that percentage was 41 percent. 6 percentage point difference.
SEPP subsidies have now been applied for for 10,671 new electric cars. Five weeks ago, that number was still 9,300. Between the last time we took a closer look at the figures and now, a subsidy has been applied for for 1,371 new EVs. There is still €35.52 million left (53 percent), good for 12,040 new electric cars.
If we take a closer look at the total subsidy pot of €99.4 million, we see that €53.81 million has been allocated (54 percent) and that €45.59 million (45 percent) is still available. Five weeks ago, 64 percent was still available. The total subsidy pot is now more than half empty for the first time.
Subsidy in 2024?
Will there be another run on the SEPP grant budget at the end of this year? That is of course always possible, but this is probably not due to the phasing out of the subsidy scheme. There will also be a SEPP subsidy available in 2024. You will receive less on the purchase of a new electric car from 2024, but with €2,550 not so much less subsidy. The purchase subsidy for used electric vehicles will remain at €2,000 until 2024. As of 2025, as far as is known, the stimulus measure is over and done with.
– Thanks for information from Autoweek.nl