The average price of an electric vehicle in the EU has fallen for the first time since 2020, with consumers saving an average of €1,800 (£1,500) as carmakers release affordable models to meet climate targets.
But according to non-profit Transport and Environment (T&E), the recent easing of carmakers’ 2030 obligations could delay the point at which EVs reach price parity with combustion vehicles.
The price has dropped for the first time since 2020, driven by the release of more affordable models to comply with the bloc’s car CO2 targets. The average price of EVs decreased by €1,800 to €42,700 (–4%) in the EU last year – a stark contrast to the period between 2020 and 2024 when the price climbed by €5,000.
Lucien Mathieu, cars director at T&E, said: “The EU targets are delivering cheaper electric cars to European drivers. The industry does not like to acknowledge that fact, but the timing of affordable new models last year is unmistakeable. If we don’t weaken the 2030 target, buying a...