ZEV cost: Comparison of passenger car retail prices
Verified on 10/31/2022
Top selling ICE passenger car price comparison with equivalent EV passenger cars with or without incentives in select markets
| Market | Year | Top-selling ICE passenger car model | ICE price | Equivalent EV passenger car model | EV price before incentives | EV price with incentives | EV/ICE price ratio before incentives | EV/ICE Price Ratio with incentives | Last updated |
|---|---|---|---|---|---|---|---|---|---|
| Canada | 2021 | Honda Civic LX | $22,661 | Chevrolet Bolt LT FWD | $34,120 | $30,132 | 1.51 | 1.33 | 5/6/2022 |
| France | 2021 | Renault Clio SL Limited TCe 90 -21N | $23,832 | Renault Zoe Life R110 - Achat Intégral -21 | $39,090 | $31,993 | 1.64 | 1.34 | 5/6/2022 |
| Germany | 2021 | VW Golf Life 1,5 l TSI OPF | $33,708 | VW ID.3 Pro Performance | $43,714 | $32,395 | 1.30 | 0.96 | 5/6/2022 |
| India | 2021 | Tata Nexon petrol XE | $10,200 | Tata Nexon BEV XM | $20,009 | $16,007 | 1.96 | 1.57 | 5/6/2022 |
| Japan | 2021 | Toyota Corolla | $17,638 | Nissan Leaf | $30,306 | $26,479 | 1.72 | 1.50 | 5/6/2022 |
| United Kingdom | 2021 | Vauxhall Corsa GS Line | $27,838 | Vauxhall Corsa-e GS Line | $38,243 | $36,180 | 1.37 | 1.30 | 5/6/2022 |
| United States | 2021 | Toyota Camry LE | $25,845 | Chevrolet Bolt LT FWD | $31,500 | $31,500 | 1.22 | 1.22 | 5/6/2022 |
Source: ICCT research. All prices converted to USD as per 2021 exchange rate on https://data.oecd.org/conversion/exchange-rates.htm.
Notes regarding exclusion and inclusion of taxes and other fees in prices before incentives:
Germany – Excluding delivery and registration costs, including VAT
United Kingdom – Excluding Deposit contribution, including VAT
France – Excluding reprise, including all taxes
United States – Excluding destination freight charge
Canada – Excluding tax, title, license, options and destination charge, including GST PST
Japan – Including 10% excise tax
India – Ex-showroom prices
