ZEV cost: Comparison of passenger car retail prices
Verified on 20 November 2024
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 |
|---|---|---|---|---|---|---|---|---|
| Germany | 2024 | VW Golf Life 2 l TSI | $ 32,545 | VW ID.3 Pro 150 kW | $ 43,267 | $ 43,267 | 1.33 | 1.33 |
| United Kingdom | 2024 | Opel Vauxhall Corsa Design 1.2 Turbo Petrol | $ 30,141 | Opel Vauxall Corsa Electric 100kW | $ 38,987 | $ 38,987 | 1.29 | 1.29 |
| France | 2024 | Peugeot 208 Like Essence 74 kW | $ 20,070 | Peugeot 208 Like Electrique 100 kW | $ 33,553 | $ 29,275 | 1.67 | 1.46 |
| United States | 2024 | Ford F-150 XL 2.7L V6 | $ 36,965 | Ford F-150 Lightning XLT | $ 62,995 | $ 55,495 | 1.70 | 1.50 |
| Canada | 2024 | Toyota RAV4 LE AWD | $ 26,786 | VW ID.4 Pro AWD | $ 44,919 | $ 41,221 | 1.68 | 1.54 |
| Japan | 2024 | Toyota Yaris Cross X 2WD | $ 12,052 | Nissan Leaf Leaf X (2WD); 40 kWh | $ 28,645 | $ 22,678 | 2.38 | 1.88 |
| India | 2024 | Maruti Swift VXI AMT | $ 9,300 | Tata Tigor XE | $ 14,910 | $ 13,120 | 1.60 | 1.41 |
Source: ICCT research. All prices converted to USD as per 2024 exchange rate.
Notes regarding exclusion and inclusion of taxes and other fees in prices before incentives:
- Germany: Excluding delivery and registration costs, including VAT. Purchase incentives for BEVs no longer offerred.
- United Kingdom: Including VAT and first vehicle registration fee for ICE vehicles. Purchase incentives for BEVs no longer offered.
- France: Excluding registration, including VAT. Includes Bonus écologique and Prime à la conversion incentives.
- United States: Including destination charges, delivery, processsing and handling fees. Includes Federal Tax Credit.
- Canada: Excluding sales and registration tax, including dealer fees and delivery charges. Includes federal iZEV rebate.
- Japan: Excluding tax, insurance premium, compulsory liability insurance, recycling costs, registration fee. Including consumption tax and national purchase subsidy.
- India: Excluding registration, insurance and road tax, including dealer’s profit margin and GST. Includes FAME II incentives.