Latest news with #governmentincentives
UAE Moments
3 days ago
- Automotive
- UAE Moments
The Rise of EVs in the Middle East: What to Expect in the Next 5 Years
Not too long ago, the thought of zipping through Riyadh, Dubai, or Doha in an electric vehicle (EV) felt more like a futuristic fantasy than an everyday reality. Fast-forward to today, and electric cars are quietly — and quickly — becoming part of the Gulf's traffic flow. From government incentives to ultra-fast charging stations, the Middle East is laying the groundwork for a serious EV takeover. But what exactly will the next five years look like for drivers here? 1. More Charging Stations… and Faster Ones One of the biggest roadblocks for EV adoption in the region has been the 'range anxiety' — the fear of running out of battery before you find a charger. That's about to change. Cities like Dubai, Abu Dhabi, and Riyadh are rapidly expanding EV charging networks, with ultra-fast chargers that can power up a car in under 30 minutes. Saudi Arabia's Vision 2030 plan even includes building thousands of charging points across the kingdom, making long-distance EV trips a reality instead of a risky experiment. 2. Price Drops on EV Models The first EVs in the Gulf came with a hefty price tag, but competition is heating up. Chinese brands like BYD and NIO, alongside established giants like Tesla, BMW, and Mercedes-Benz, are bringing more affordable models to the region. In the next five years, expect EVs to be priced much closer to petrol cars — especially as governments continue offering tax breaks, toll exemptions, and free parking for electric vehicle owners. 3. EVs Built for the Gulf Climate Let's be real — desert heat and electric batteries haven't always been best friends. But manufacturers are now developing cooling systems designed specifically for hotter climates. By 2030, EVs in the Gulf will have better heat-resistant batteries, improved air conditioning efficiency, and solar-integrated tech that can power certain car functions without draining the main battery. 4. More EV-Only Lanes and Perks Dubai has already introduced perks like free Salik (toll) charges for EVs in certain zones. Expect this trend to grow — dedicated EV lanes, discounted registration fees, and priority parking spots could be on the horizon. These perks not only save drivers money but also push more people to make the switch. 5. Big Push for EV Public Transport The EV wave isn't just about personal cars. Electric buses, taxis, and even delivery fleets are going green. In fact, Riyadh and Abu Dhabi are already trialling electric buses, while Dubai's Roads and Transport Authority (RTA) aims to have a majority of its taxis electric or hybrid by the end of the decade. 6. A Surge in Used EV Markets Right now, the Gulf's EV second-hand market is tiny. But as more people buy electric cars, a flood of pre-owned EVs will hit the market, giving budget-conscious drivers a chance to join the trend without paying full price. 7. Tech-Heavy Driving Experiences If you think EVs are just about the battery, think again. The next-gen EVs are basically computers on wheels — offering AI-assisted driving, personalised climate settings, and augmented reality dashboards. In the Gulf, these features are likely to become major selling points for young drivers who want more than just a ride — they want a smart ride. The Road Ahead In just five years, the Middle East could see electric vehicles go from rare sightings to a mainstream choice for city commuters and cross-country travellers. With charging infrastructure booming, prices dropping, and tech evolving, EVs are no longer just the future — they're the present, and they're here to stay. So, whether you're in it for the planet, the tech, or simply to skip the petrol station queues, the next half-decade is going to be an exciting ride for Gulf EV drivers.
Yahoo
7 days ago
- Business
- Yahoo
Western European car market up in July 2025
In July 2025, the Western European PV market improved nearly 4% YoY as sales reached 950k units. However, the selling rate eased fractionally to 11.5 million units/year. Overall, 2025 continues to be a tough year for the market as YTD sales are marginally worse (-0.5% YoY) than 2024, now standing at just over 7 million units. Across the five major markets in the region, sales remained mixed in July. Spain continued its strong run of growth as sales were up double digits YoY, while Germany also saw its best result since April 2024, a reversal from the negative trend seen throughout the year. Conversely, France, Italy, and the UK all saw declines; the drop in the French market being the most notable, having fallen on a YoY basis in every month of 2025. Commentary For July, the PV selling rate for Western Europe stood at 11.5 million units/year, slightly down on June. The market did improve in YoY terms by 4% with most markets experiencing some level of growth; however, three of the big five markets fell at least 5% YoY. Of the big five markets, Spain and Germany saw solid growth in July. Spain recorded a third consecutive month of growth over 15% YoY as well as its eleventh consecutive month of overall growth, as the combination of the Reinicia Auto+ Plan, the rise in electrified vehicle registrations supported by government incentives from the MOVES Plan, and effective promotional efforts by brands, continue to boost sales. Spanish PV sales totalled 98k units. Sales in Germany were surprising as the market saw its second month of growth in 2025 and its best result since April 2024, as sales reached 265k units. Economic sentiment in Germany is improving due to the German government's diversion from austerity measures. For the rest of the big five markets: France, Italy, and the UK, July painted a different picture. In France, the PV market recorded its seventh consecutive decline as sales fell to 116k units. Political uncertainty, especially around the country's fiscal deficit is having real effects on consumer and business confidence. Furthermore, recent regulatory changes implemented in February, including a reduction in BEV incentives and a stricter malus tax on carbon emissions, have also influenced consumer behaviour and market dynamics. In the UK, sales declined to 140k units due to a significant drop in demand from both private and fleet buyers. Finally, sales in Italy fell to 118k units primarily due to uncertainty surrounding the revision of CO2 regulations for light vehicles, which has left potential buyers hesitant to invest in new all-electric vehicles. This article was first published on GlobalData's dedicated research platform, the . "Western European car market up in July 2025 – GlobalData" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
News.com.au
25-06-2025
- Business
- News.com.au
‘Slippery slope': Low FHB deposits spark NINJA loan fears
First homebuyers are getting on the property ladder using increasingly smaller deposits, with new data showing they're only stumping up 8 per cent of the loan upfront as governments offer more incentives. Research by Great Southern Bank reveals government assistance and financial help from family are making it easier than ever for first-time home seekers to buy a home. The bank found the average first homebuyer — a third of whom were aged 35 and over — had secured a home loan with a deposit of between 7.7 per cent and 8.9 per cent in the past 12 months. In Queensland, the government has announced a new Boost to Buy scheme allowing those earning $150,000 or less the ability to buy a home valued up to $1m with just a 2 per cent deposit. Independent housing researcher, Cameron Kusher of Kusher Consulting, said governments' involvement in the housing market by way of incentives risked pushing up prices further. In a post on his LinkedIn account, Mr Kusher said: 'I get that we want more people in homes, but 2 per cent deposits for $1 million homes? I fear it is only a few years until governments here in Australia are supporting NINJA loans and 100 per cent LVR mortgages. Superannuation vs. property returns: What's the winner? 'It seems like a slippery slope to me, one that both sides of politics continue to dabble in. 'Not to mention the more that the government is involved in housing, via underwriting LMI, the more incentive they have for higher prices and thus the less incentive for lower prices.' Maria McQullian, a broker of 25 years and owner of Concinnate Financial Services, said the majority of first homebuyers were securing their properties with a 5 to 15 per cent deposit. 'The First Home Guarantee (FHBG), Family Home Guarantee (FHG), family guarantor and lenders' mortgage insurance (LMI) discounts are all beneficial in situations where it might take years to save a 20 per cent deposit and could mean missing out on the opportunity to buy at current prices,' she said. 'Lenders can waive your LMI if you apply for a home loan through the Australian government's Home Guarantee Scheme (HGS). 'It allows eligible home buyers to get on the property market with a deposit as little as 2-5 per cent and Housing Australia guarantees the rest. 'The re-elected Albanese government has also promised first home buyers there'll be no LMI to pay so long as you have a 5 per cent deposit and meet eligibility criteria.' Great Southern Bank's 'No Place Like Home Report' also revealed 43 per cent would look at government schemes for financial help, while about a quarter would ask their family for help or buy with a friend or sibling. Great Southern Bank chief customer officer Rolf Stromsoe said customers were finding a variety of pathways to home ownership. 'These pathways play a crucial role in getting Australians on the property ladder sooner, and with a smaller deposit,' he said. 'Aspirational buyers should strongly consider talking to a home loan expert or broker about their support options — they may need less than they think.'
Bloomberg
10-06-2025
- Business
- Bloomberg
Solar's Hopes Dim as Post-Covid Boom Turns to Trump-Era Bust
Welcome to The Brink. We're Libby Cherry and Ed Clark, reporters in London, where we've been following the travails of the solar industry. We also have the latest on China's property crisis and Altice France. Follow this link to subscribe. Send us feedback and tips at debtnews@ Solar companies in the US and Europe boomed in the wake of the pandemic and the war in Ukraine as government incentives and record high gas prices drove installs. Now, they are reeling in the face of still-high interest rates and regulatory uncertainty, while Chinese manufacturers flood the European market with cheaper products.
National Post
19-05-2025
- Automotive
- National Post
Why electric vehicle sales have dropped across Canada for the third year in row
A new survey from AutoTrader shows electric vehicle sales have dropped for the third year in a row. Article content According to the data, interest in electric vehicles has continued to drop since 2022 and the ongoing threat of U.S. President Donald Trump's tariffs has contributed to the downward trend. Consumers have raised concerns over reduced government incentives, the lack of electric vehicle infrastructure, and cost, the survey said. Article content Baris Akyurek, vice-president of insights and intelligence at AutoTrader, said the main reasons consumers are hesitating to purchase an electric vehicle has not changed in the last three years. Akyurek said 78 per cent of those surveyed raised concerns about the limited range of electric vehicles. Article content Article content The second-highest concern, according to 69 per cent of those surveyed, is how expensive electric vehicles are. Akyurek said when AutoTrader assessed the models of various electric vehicles and prices, the cost for an electric vehicle compared to non-electric was 15 to 20 per cent higher. Article content Year-over-year cost of an electric vehicle has declined, making electric vehicles more affordable, according to AutoTrader. Article content The survey said in 2025, 42 per cent of Canadians are considering an electric vehicle for their next vehicle, down from 46 per cent in 2024. Only 29 per cent of Canadians said they would exclusively consider going electric, down from 40 per cent in 2024. Article content Article content The ongoing threat of Trump's tariffs has contributed to a lot of activity in the market, Akyurek said. More than ever, he said, government incentives are needed to push Canadians to go electric. Article content Article content 'Incentives are a big part,' Akyurek said. Article content 'Removing the government incentive from the equation … essentially makes EVs more expensive. The federal incentive program helped consumers with their purchases.' Article content The survey said 68 per cent of non-electric vehicle owners who would consider buying an electric vehicle believed they could be influenced if there were government incentives. Over half of respondents said incentives increased their confidence in purchasing an electric vehicle. Article content Alberta implemented a yearly registration fee of $200 for electric vehicle users in early 2025. Akyurek said the fee, when compared to the purchase of an electric vehicle which can cost thousands of dollars, may not be a huge deterrent, but does not help the electric vehicle cause. Article content Article content Article content Article content
