The average EV retail price in the biggest markets

EV prices in Europe and the United States stand out when compared to China. While there has been considerable volatility in the United States and Europe since 2015, prices have continued to grow. In China, on the other hand, EV prices have continuously fallen.
In H1 2022, the average price of an EV in Europe was €55,821 and in the US it was €63,864 – up from €48,942 and €53,038 in 2015. Today, an EV costs 27% more than a gasoline vehicle on average in Europe, and 43% more in the United States.

With little progress in lowering EV prices across Europe, customers continue to rely primarily on government subsidies. This is largely due to OEMs focusing their production efforts on luxury models and sectors with minimal price sensitivity.

Since 2020, the offer of cheaper, entry-level segments has improved, although costs remain high when compared to equivalent gasoline vehicles.

With the exception of Tesla, OEMs in the United States have fallen behind their counterparts in Europe and China in terms of electrification. The US industry confronts a unique difficulty due to consumer predilection for huge trucks and SUVs.

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EV prices in Europe, United States & China
Source: Affordable evs and mass adoption: the industry challenge | JATO
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