In Italy the differential is 42%. The average price of a battery-powered car in the Old Continent is 42,500 euros, explains a research by Jato Dynamics. Manufacturers are now gearing up to dispense with the more popular cost car incentives
In Europe, an electric car costs on average 31.7% more than a thermal car. It is clear that battery-powered cars have higher prices than thermal ones, and that public incentives mitigate the extent of private disbursements is equally peaceful. On the other hand, the trend in the price lists of zero-emission cars in recent years and the differences in the various areas of the world are less obvious. In this regard, Jato Dynamics, a British automotive consultancy company, has developed a research with an interesting name that can be translated as follows: Electric cars, the price challenge. The study takes into consideration the dynamics of consumer costs from 2011 to 2021 in Europe, the United States and China. In the Old Continent, the research analyzes in detail the trend in Germany, France, the United Kingdom, Norway and the Netherlands.
electric cars, how prices have changed in 10 years
The average price of an electric car in Europe went from € 33,292 in 2011 to € 42,568 in 2021, an increase of 28%. In the United States 10 years ago an electric car cost an average of 26,200 euros, this year 36,200 euros, equal to an increase of 38%. The trend of the curve in China is quite different, where the average selling price of 41,800 euros in 2011 has reached 22,100 euros in 2021, or a decrease of 47%. The reason for the decline, explains Jato’s study, also lies in the fact that the Chinese industry has focused on popular cars with affordable prices to a wider audience thanks to the adaptation of heat-engine cars to battery-powered vehicles. Obviously, public aid plays an important role. The purchase incentives in the Asian country, which began in 2010, continue now and until the end of 2022, even if greatly reduced.
Even more interesting is the comparison between the average price in 2021 recorded between cars with internal combustion engines and battery-powered vehicles in the three regions considered. The current cost recorded by Jato Dynamics is that of the January-May period. In Europe, the outlay for a thermal is 32,318 euros, for an electric one of 42,568 euros, a difference of 31.7%. In the United States 24,866 euros are spent on a thermal, 36,139 euros for a battery-powered car, 45.3% of the delta. Also in this case the situation is different in China where motorists have spent 23,703 euros for a thermal car while for an electric car 22,072 euros, or 6.9% less, with peaks down to 6,700 euros for a city car. battery and 15 thousand euros for a segment B, a so-called small car.
In Italy + 42%
If the comparison between continents is interesting, the study photographs the country-by-country price difference in Europe between electric cars and thermal cars without however indicating average figures: the period taken into consideration is always from January to May 2021. Well in Italy a car a battery costs 42% compared to a thermal; in France and Spain 45%; in Germany 8%; in the United Kingdom, 51%; in Belgium 92%; in Sweden 78%.
the case of norway
The only exception in the Old Continent is Norway where, on average, to buy an electric one you spend 15% less than a thermal: the average price of an EV is 44,500 euros (but 10 years ago it was 30,500 euros) , of a fuel car is 53 thousand euros. It should be borne in mind that the country’s per capita GDP is almost 58,200 euros (2020) against a European average of 28,600 euros (2019). Norway boasts another peculiarity, namely the policy of public aid for the purchase of cars on tap. Instead of incentives that translate into reductions on the purchase price of the vehicle, the Scandinavian country has focused on the tax rebate and on a robust public investment for charging facilities. Currently in Norway, those who buy an electric, among other benefits, do not pay the purchase tax, VAT and benefit from a cut between 75 and 90% of the stamp duty.
In general, if the incentive policy has greatly affected the sales of electric cars around the world, several manufacturers are clearly taking steps to reduce production costs and increase profitability. Jato brings as an example of this trend what Tesla and the Volkswagen group, the two main players in the production of battery vehicles, are doing. Generally speaking, Jato concludes his report with this consideration: “There is an urgent need for the auto industry to focus on affordable electric models that reflect consumer demand.” All this without counting the arrival in Europe of several Chinese manufacturers such as Geely, Nio and Xpeng.
October 11, 2021 (change October 11, 2021 | 13:11)
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