EU's Top Economies Spend Billions on Fossil Fuel Company Cars

A new study reveals that major EU countries are heavily subsidizing fossil fuel-powered company vehicles, hindering the transition to electric alternatives.

Germany and Italy lead in subsidies, with Germany spending €13.7 billion and Italy €16 billion annually on fossil fuel company cars.
The subsidies contribute significantly to greenhouse gas emissions, with company cars making up 60% of new car sales in Europe.
Despite the EU's green transition goals, a substantial portion of subsidies supports high-polluting SUVs, offering up to €21,600 in annual tax benefits for larger models.
The study highlights a lack of incentives for switching to electric vehicles, as EV sales in Europe have dropped significantly, with Germany experiencing a 69% decline.
Environmental groups urge for a reallocation of subsidies towards electric vehicles to align with the EU's climate objectives.