42 Billion Euros in Tax Benefits: EU Countries Subsidize Combustion Company Cars

Company car owners save an average of 6,800 Euros in taxes each year, contributing to approximately 42 billion Euros in subsidies for combustion engine vehicles among the five largest EU countries. Meanwhile, sales of electric vehicles in Europe are declining.

According to a study, the five largest EU countries spend around 42 billion Euros annually on subsidizing company cars with internal combustion engines. Italy leads with 16 billion Euros, followed by Germany with 13.7 billion Euros, as revealed in a recent report commissioned by the environmental organization Transport & Environment (T&E). France and Poland contribute just over 6 billion Euros each per year in subsidies.