Electric cars, European manufacturers focus on larger and more expensive models February 19, 2024 114

Last report generated Transport and environment (YOU), a European environmental organization, highlights interesting dynamics in the field electric cars V Italy And in Europe.

The findings of this study indicate that Car manufacturers are prioritizing larger, more expensive electric vehicles.Instead of focusing on compact and affordable models, this trend could negatively impact consumer acceptance of electric vehicles.

On the Old Continent only 17% of electric vehicles sold in 2023 were in the B-segment (i.e. compact models), which is much lower than the 37% of endothermic cars belonging to the same segment. In Italy the situation is even more pronounced. however, only 20% of electric vehicles are sold in the B segment compared to 47% for petrol or diesel cars.

Moreover, T&E analysis shows that The average price of electric vehicles in Europe has increased by 39% since 2015 while in China it decreased by 53%. This growth is explained by the concentration of manufacturers on large models and SUVs, which naturally have a higher price.

Andrea Boraskidirector of Transport & Environment Italia, criticized this production strategy, saying that Electric vehicle adoption is slowing due to lack of available models.

Then he stressedthe importance of the corporate sector in the spread of electric vehicles. Currently, corporate fleets have a slightly smaller share of the all-electric vehicle market than the private market (14% vs 15%). T&E is proposing a target to make the company’s fleet 100% electric by 2030 to accelerate electrification.

In terms of market trends, despite the lack of economic models, EV market share in Europe rises in 2023, reaching 14.6%. However, Boraski emphasized that corporate fleets represent a key opportunity to accelerate electrification thanks to tax incentives and the financial ability of companies to invest in electric vehicles.

The information obtained from the study conducted by the European organization reflects not only current trends in the electricity market, but also the challenges faced by producers and consumers in the transition to sustainable mobility.

Given these findings, it is important to discuss how automakers’ production strategies and government policies may impact the future of the electricity sector, especially in a fast-growing market like Europe. More detailed information on the dynamics of the European market in 2023 can be found in our dedicated article.