BOCHUM (dpa-AFX) - Manufacturers and dealers in the German automotive market have recently reduced their discounts on new electric vehicles. In April, the average price reduction relative to the list price fell by 0.6 percentage points to 18.7 percent, according to a regular market study by the private Center Automotive Research institute. For internal combustion engine (ICE) vehicles, discounts decreased by only half as much, dropping 0.3 points to 18.4 percent of the list price, following a peak in March.
Study director Ferdinand Dudenhoeffer views this development as a response to high fuel prices. Electric cars are becoming more attractive to customers due to their lower operating costs, meaning sales require less promotional support. This trend is also being bolstered by the increasing market entry of smaller EVs with lower entry-level prices. Key models include the VW ID Polo, the Kia EV2, and the Renault Twingo E-Tech.
SUVs continue to dominate the EV segment
To date, heavy SUVs continue to dominate the market, even within the electric segment. According to the study, more than half of the electric vehicles offered in Germany fall into the SUV or off-road categories. In the first three months of this year, 54 percent of all newly sold electric cars belonged to this group.
The study examined online offers for 20 models each with either internal combustion engines or battery-electric powertrains. The average transaction price for ICE vehicles remained 1,823 euros higher than that of electric cars, which only demonstrate their cost advantages during operation, provided they can be charged economically./ceb/DP/zb
