ZEV cost: Comparison of passenger car retail prices
Verified on 28 Aug 2023
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 | 2022 | VW Golf Life 1.5 l TSI OPF | $ 32,793 | VW ID.3 Pro 58 kWh | $ 42,117 | $ 34,558 | 1.28 | 1.05 |
| United Kingdom | 2022 | Nissan Qashqai Visia DIG-140 Mild Hybrid | $ 32,996 | Nissan Leaf Acenta 39 kWh | $ 35,739 | $ 35,739 | 1.08 | 1.08 |
| France | 2022 | Peugeot 208 Like Essence 55 kW | $ 19,618 | Peugeot 208 Like Electrique 100 kW | $ 36,646 | $ 31,381 | 1.87 | 1.60 |
| United States | 2022 | Toyota RAV4 LE FWD | $ 29,610 | VW ID.4 Pro AWD | $ 49,090 | $ 41,590 | 1.66 | 1.40 |
| Canada | 2022 | Toyota RAV4 LE AWD | $ 27,562 | VW ID.4 Pro AWD | $ 44,733 | $ 40,892 | 1.62 | 1.48 |
| Japan | 2022 | Toyota Corolla Corolla sedan X; Gasoline / 1.5L / CVT / 2WD FF | $ 15,133 | Nissan Leaf Leaf X (2WD); 40 kWh | $ 31,035 | $ 25,103 | 2.05 | 1.66 |
| India | 2022 | Maruti Baleno Sigma | $ 9,497 | Tata Tigor EV XE | $ 15,890 | $ 12,839 | 1.67 | 1.35 |
Source: ICCT research. All prices converted to USD as per 2022 exchange rate.
Notes regarding exclusion and inclusion of taxes and other fees in prices before incentives:
-
- Germany – Excluding delivery and registration costs, including VAT. Includes Umweltbonus and Innovationprämie incentives.
- United Kingdom – Including VAT and vehicle tax incentives.
- France – Excluding registration fee, including VAT and delivery fee. Includes Bonus écologique and Prime à la conversion incentives.
- United States – Including destination charges, delivery, processing and handling fees. Includes Federal Tax credit incentives.
- Canada – 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 – Ex-showroom prices. Includes ₹10,000/kWh up to 20% of the cost base.
