A charging station is waiting for your electric car at the Creativhotel Lusie in Erlangen, Germany. But when will you be able to afford it? At the International Motor Show (IAA) in Munich, it was announced that “affordable electric cars are coming”. IMAGE ©Creativhotel Luise
So far, EVs are significantly more expensive than gasoline cars
According to a study by Deloitte, electric cars cost an average of 42,000 euros. That makes them 11,000 euros more expensive than the average gasoline car! The reasons for the higher purchase price are the battery (currently 40 percent of production costs) and the production of smaller numbers. According to surveys, the high price is also the main reason why many customers still decide against an electric car.
At the IAA Mobility in Munich, German Chancellor Olaf Scholz said that there must be e-mobility offerings “that are affordable for a large number of citizens”. Several experts at the show expressed their views on when this would be the case.
- According to Ferdinand Dudenhöffer of the Duisburg-based Center Automotive Research (CAR), it will be 2026 before electric cars become significantly cheaper.
- Management consultant Fabian Brandt of Oliver Wyman believes that by 2026 or 2027, e-cars and gasoline-powered cars will cost the same.
- Management consultant Dudenhöffer, on the other hand, believes that the price gap will only disappear between 2028 and 2030.
Affordable electric Cars in 2023
The Center Automotive Research has compiled a list of the 30 most popular electric cars today. Two of them cost less than 30,000 euros. They are the
- Dacia Spring (about 23,000 euros)
- Smart Fortwo (about 22,000 euros)
However, production of the Smart Fortwo is now being discontinued and the successor model Smart #1 is expected to cost around 42,000 Euros!
4500 Euro government subsidy
As you can see, switching to an electric car is not easy financially. In Germany, a subsidy for electric cars will only apply to private individuals as of September 1, 2023. It amounts to up to 4500 Euro for a list price of up to 40,000 Euro (plus 2250 Euro manufacturer discount). If you want to know more about this, you can find an information sheet from BAFA here.
By the way: If you wish to use an electric car on vacation, there are several Green Pearls® partners who will lend you an electric car on site. We introduce some of them in this article:
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