Volkswagen ID.3 Leads German EV Market for Fourth Month as Political Debate on ICE Engines Heats Up
The Volkswagen ID.3 continues its dominance in the German electric car market, leading the rankings for the fourth consecutive month with nearly 3,000 new registrations in September. Meanwhile, a heated debate is ongoing in politics about the future of internal combustion engines, with differing views from various parties.
The ID.3's success is a testament to Volkswagen's commitment to electromobility. However, the company is facing challenges due to insufficient demand for electric cars, leading to temporary production shutdowns in Zwickau and Dresden. During this downtime, Volkswagen is utilising the opportunity for training and maintenance work.
Politicians are divided on the future of combustion engines. Lower Saxony's Minister President Olaf Lies is attempting to calm the debate, reassuring that there will be no blanket ban. Sebastian Lechner, a CDU politician, is advocating for a clear commitment to combustion engines beyond 2035. On the other hand, the SPD is pushing for a phase-out by 2035, while CDU leader Merz is calling for more technological openness. Despite these differing views, the dispute is expected to continue.
Volkswagen is calling for supportive measures to promote electromobility, including a continued exemption from vehicle tax for electric cars and a charging price of less than 50 cents per kilowatt hour. The company is also looking for new impetus from the upcoming automotive summit to boost the market rollout of electric vehicles.
Analysts remain optimistic about Volkswagen's prospects, with Deutsche Bank Research maintaining a 'Buy' rating and a consensus among 21 analysts recommending an 'Increase' in shares. The average price target for 2026 is about 120 euros, indicating potential upside from the current price near 93 euros. Despite the ongoing political debate and production challenges, Volkswagen is steadfast in its commitment to electromobility and is seeking supportive measures to drive its success.
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