2024, the year of the price war in the electric car market. What discounts do manufacturers make?

Tesla, Renault, Dacia, VW, MG and even Toyota seem to start the price war of electric models and have successively lowered their sales rates. Therefore, the year 2024 promises to be under the best auspices for those hoping for cheaper “zero emission” models. For some models, the price drops reach 7-8,000 euros, according to largus.fr.

Romanians are increasingly interested in electric cars

Romanians are increasingly interested in electric cars

It all started in January 2023, when Tesla announced a massive drop in the prices of its Model 3 and Model Y models. And we’re talking up to 13,500 euros for the customer. “One year later it’s clear that this strategy worked”, shows largus.fr. The American company’s sales in France increased by 115.9% between 2022 and 2023, reaching 63,041 copies. This represents 21% of electric car registrations (from France-ed.), far ahead of Renault, Dacia or Peugeot. The Model Y SUV has 37,127 registrations and looks set to continue that momentum as it has just dropped its base price to €42,990, or €3,000 less than before. Another manufacturer, MG, also successfully played the low price card. It is thus ahead of Fiat, Volkswagen, Kia and Hyundai.

But in 2024 several “historic” brands seem to have finally decided to react. They announced either new products at more attractive prices, or sometimes spectacular price reductions on established models.

As soon as New Year’s Eve passed, Volkswagen was the first to launch the attack. As of January 2, the German giant announced “a complete overhaul of its ID ranges”. As well as heralding some notable technical developments such as a new, more efficient engine, the ID.4 and ID.5 saw their costs reduced on most versions. Savings can even exceed 8,000 euros on certain versions.

The reaction of one of the ID.3’s main competitors, the Renault Mégane E-Tech, was not long in coming. As of January 5, the French company announced a price reduction between 4,000 and 4,500 euros.

For its part, Dacia, subsidiary of Renault, had another problem to manage. Since December 15, the Spring model has been deprived of an ecological bonus (in France-ed.) being manufactured in China. “The Romanian brand partially compensated for this bad news thanks to a price drop of 2,400 euros“, stated largus.fr.

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