ZEV cost: Comparison of passenger car retail prices

Top selling ICE passenger car price comparison with equivalent EV passenger cars with or without incentives in select markets

MarketYearTop-selling ICE passenger car modelICE priceEquivalent EV passenger car modelEV price before incentivesEV price with incentivesEV/ICE price ratio before incentivesEV/ICE Price Ratio with incentivesLast updated
Canada2021Honda Civic LX $22,661 Chevrolet Bolt LT FWD$34,120$30,1321.511.335/6/2022
France2021Renault Clio SL Limited TCe 90 -21N $23,832Renault Zoe Life R110 - Achat Intégral -21$39,090$31,9931.641.345/6/2022
Germany2021VW Golf Life 1,5 l TSI OPF $33,708VW ID.3 Pro Performance$43,714$32,3951.300.965/6/2022
India2021Tata Nexon petrol XE $10,200 Tata Nexon BEV XM$20,009$16,0071.961.575/6/2022
Japan2021Toyota Corolla $17,638 Nissan Leaf$30,306$26,4791.721.505/6/2022
United Kingdom2021Vauxhall Corsa GS Line $27,838Vauxhall Corsa-e GS Line$38,243$36,1801.371.305/6/2022
United States2021Toyota Camry LE $25,845Chevrolet Bolt LT FWD$31,500$31,5001.221.225/6/2022

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