In Europe electric cars are large and expensive. And in Italy the situation is even more complex. According to a study carried out by Transport & Environment (T&E), the independent European environmental organisation, in our country only 20% of electric cars are small cars, while the rest belong to the medium and premium category, with the share of petrol or diesel fixed at 47%, while in Europe it is 37%. Only 40 fully electric models were launched in the compact segments (A and B) between 2018 and 2023, compared to 66 large and luxury models (D and E) released on the market in the same period. Only 28% of electric car sales in Europe are in the D segment, that of large cars (the Italian national figure is 29%); for endothermic cars the corresponding share is just 13% (only 7% in Italy). As regards prices, the average price of a battery electric car in Europe has increased by 39% from 2015 to today (+18,000 euros) while in China it has decreased by 53%, a phenomenon mainly due to the fact that European manufacturers focus disproportionately on large cars and SUVs, which command a premium. “European car manufacturers are slowing down the adoption of electric vehicles by consumers because they are not bringing affordable models to the market in the time and quantities needed,” explains Andrea Boraschi, director of the Italian T&E office. “Manufacturers' disproportionate concentration on large SUVs and premium models means we have too few mass-market cars and too high prices.”
Even with a few economical models the market is growing
From T&E's analysis, based on production forecasts created by GlobalData, during this year the models available on the market for less than 25,000 euros will be produced in just 42,000 units for Europe. Despite the scarcity of affordable models, the EU market share of electric cars grew by 2.5 percentage points to 14.6% in 2023.
The corporate sector is crucial
However, the market share of BEVs in the EU could already be 22% today if the company car sector – which in many countries accounts for the majority of new car sales – was at the forefront of electrification. Currently, with an electric diffusion of 14%, the corporate sector appears to be slightly behind the private market (15%).
T&E calls for 100% electric company fleets by 2030
Taxation plays an important role in encouraging the uptake of zero-emission cars, but in countries such as Germany carmakers have resisted a company car tax reform that would increase pressure on petrol and diesel models. To accelerate the electrification of road transport in Europe, the setting of binding targets will also be crucial: T&E calls on the EU to set a target for company fleets of 100% new pure electric cars by (and at the latest) 2030. The European Commission has opened a public consultation on the company car transition.
Company cars are perfect candidates to accelerate electrification
“Company cars are the perfect candidate to accelerate electrification”concludes Boraschi. “They are already heavily subsidized thanks to tax breaks and companies often have the financial strength to invest in electric vehicles. This is why the EU must present a law that covers a large portion of the corporate fleet market, guiding leasing giants and companies with large car fleets.”
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