Electric Car Average Price Falls by €1,800 as Carmakers Release Affordable Models to Meet EU Target — Analysis - CleanTechnica

The average price of electric vehicles (EVs) in the European Union fell by €1,800 (4%) to €42,700 in 2024, marking the first price decline since 2020. This drop is primarily attributed to the introduction of more affordable small EV models in the B-segment, such as the Citroën ë-C3 and Renault 5, launched to help carmakers meet the EU’s 2025 car CO2 emissions targets. Between 2020 and 2024, EV prices had risen by about €5,000 despite reductions in battery and component costs, as manufacturers focused on larger, more profitable EVs due to weaker emissions targets during that period. The analysis by Transport & Environment (T&E) highlights that half of the carmakers have already met the 2025-2027 EU targets ahead of schedule, with Renault and Volkswagen expected to comply by 2027. The report also indicates that EVs have reached price parity with combustion engine