ZEV cost: Comparison of passenger car retail prices

Verified on 5 December 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 ModelICE PriceEquivalent EV Passenger Car ModelEV Price before incentivesEV Price with incentivesEV/ICE Price Ratio before incentivesEV/ICE Price Ratio with incentives
Germany2022VW Golf Life 1.5 l TSI OPF $ 32,793 VW ID.3 Pro 58 kWh $ 42,117 $ 34,558 1.281.05
United Kingdom2022Nissan Qashqai Visia DIG-140 Mild Hybrid $ 32,996 Nissan Leaf Acenta 39 kWh $ 35,739 $ 35,739 1.081.08
France2022Peugeot 208 Like Essence 55 kW $ 19,618 Peugeot 208 Like Electrique 100 kW $ 36,646 $ 31,381 1.871.60
United States2022Toyota RAV4 LE FWD $ 29,610 VW ID.4 Pro AWD $ 49,090 $ 41,590 1.661.40
Canada2022Toyota RAV4 LE AWD $ 27,562 VW ID.4 Pro AWD $ 44,733 $ 40,892 1.621.48
Japan2022Toyota Corolla Corolla sedan X; Gasoline / 1.5L / CVT / 2WD FF $ 15,133 Nissan Leaf Leaf X (2WD); 40 kWh $ 31,035 $ 25,103 2.051.66
India2022Maruti Baleno Sigma $ 9,497 Tata Tigor EV XE $ 15,890 $ 12,839 1.671.35

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.