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Regional BEV and ICE Vehicle Prices Chinese EVs join the global trend of EVs carrying a price premium over ICE vehicles.
China
In recent months, cheaper ICE vehicles entered the top 15 best-selling vehicles, pushing down the average price. BEVs hold a 11% price premium
USA
BEVs hold a 43% price premium over ICE vehicles especially as the federal EV tax credit has ceased
Europe
ICE prices increased, but BEVs still retain a 73% price premium depending on the local market incentive
Note: Data takes a sales weighted average of the base price of the top 15 models in each major region on a 12-month rolling basis. Result are before VAT for accurate cross-region comparison and converted to USD.
Source: Data from Benchmark Mineral Intelligence (Distinguished Partner). For more information, visit https://www.benchmarkminerals.com.
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