More drivers in Germany are switching to electric cars

Jörg Rheinländer sees the used car market as the crucial lever. "Electric used cars can apparently become a game changer," he is convinced, adding: "This trend could possibly be reinforced if, in addition to buyers of new cars, buyers of used electric cars could also benefit from the state e-car subsidy." With this, HUK Coburg is taking up a political demand that has been discussed in the industry for months.

State subsidy and new registrations in July

That the state subsidy is having an effect is also shown, according to the insurer, by looking at new registrations. In July 2026, a particularly large number of new electric cars were registered. HUK Coburg sees a direct connection with the funding. Although the company does not cite specific registration figures, it refers to its own observations within its portfolio of insured vehicles.

HUK Coburg is not the only player that sees the transformation accelerating. The major manufacturers are also following the trend closely. At Volkswagen AG, BMW, and Skoda, electric models now account for a growing share of the model range. The manufacturers are responding to demand that, according to the insurers, picked up noticeably in the first months of 2026.

Data basis and the role of the Federal Motor Transport Authority

The official data from the Federal Motor Transport Authority, on which the industry typically relies, tends to confirm the picture. Although the authority publishes its monthly figures with a time lag, the preliminary values for the second quarter point in the same direction as the HUK survey.

Consequences for insurers and consumers

The shift has tangible consequences for the insurance industry. Electric cars are in many cases more favorable than combustion engines in terms of claims and workshop balances, because they are less frequently involved in serious accidents and have fewer wear parts requiring maintenance. In addition, insurance tax for electric cars in Germany is lower than for combustion engines. Both effects feed back into the premiums insurers can offer their customers.

At the same time, the industry warns against expectations that are too high for the used car market. Young electric cars that come onto the market as lease returns are often still comparatively expensive. Only as the vehicles get older do prices drop significantly. Rheinländer therefore considers extending the state subsidy to used-car buyers an effective means of further increasing willingness to switch.

Meanwhile, the switch is also changing the picture on the roads. More and more passenger cars with an E-plate are recorded in HUK Coburg's insurance portfolio. This is gradually shifting the risk structure in insurers' motor portfolios as well, away from the classic combustion engine and toward electric and hybrid vehicles.