2023-04-30 19:58:09
According to a recent study by the International Energy Agency, the price of small electric cars should fall in order to reach parity with thermal models. On the other hand, it should take a little longer for larger vehicles including SUVs.
There are two points that still pose problems for many motorists and that dissuade them from going electric: autonomy and price. Two worries that will soon be over, due to the development of charging infrastructure and the gradual reduction in prices. A fall which is explained among other things by Tesla’s strategy, but not only. Because other reasons also play a role.
Parity soon?
In any case, this is what a recent study carried out by the International Energy Agency (IEA). First of all, it states that sales of electric cars have increased considerably around the world, with no less than 10 million registrations last year. A figure that should increase to 14 million in 2023, while one in five cars sold this year will be electric.
And this strong increase should have a positive impact for customers, sinceit would bring prices down according to agency forecasts. This is indeed what Timar Guel, its head of energy technology policy, explains. According to him ” our current expectation is that we can see price parity in small and medium electric cars in North America and European markets somewhere in the mid-2020s« .
This means that zero-emission (exhaust) cars should finally be at the same price as their thermal equivalents. This should convince many motorists, especially since it has already been proven that driving in electric is less expensive. Indeed, this type of engine requires less maintenance and charging is less expensive than a full tank of fuel. This is also the case with insurance.
However, this parity will only be achieved in the first place by small cars. A trend already visible with the Volkswagen ID.2all concept as well as the future electric Renault 5, announced below the 25,000 euro mark. Later, another city car designed by the German firm will also see the light of day, with a price below 20,000 euros.
What is the reason ?
We will have to take our troubles patiently with regard to the largest electric cars, and in particular SUVs. According to the IEA spokesperson, this parity should rather arrive in the course of the 2030s. Several reasons explain this. First, larger vehicles require larger batteries, which therefore cost more. Because these sometimes represent 40% of the total price of a car.
The secret to reducing prices is therefore to implement smaller packs, as Ford and Renault plan to do. A solution that allows us to wait until the rise of solid-state batteries, which will not happen before the end of the decade. But there is another reason why car prices will drop sharply over the next few years.
You have to look for China, with brands that tend to cut prices with models that are much cheaper than those offered here. However, the rates tend to be revised upwards when these vehicles are imported into the Old Continent. They still remain very competitive and should push European manufacturers to align if they don’t want to let themselves be dominated.
This is also the strategy adopted by Tesla, whose Model 3 and Model Y prices have fallen considerably since the start of the year. The firm remains the leader in the sale of electric cars ahead of BYD and Volkswagen, while its SUV was still the most registered vehicle in Europe in the 1st quarter, all engines combined.
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