The Wait for Affordable EV's continues

Europe's electric car scene is booming, but are the only winners luxury carmakers and early adopters? New research suggests a concerning trend that affordable electric vehicles are lagging behind and to be honest, I would have to agree.

Whilst large and expensive SUVs dominate the market, only a fraction (17%) of electric cars sold are the more budget-friendly compact models. This means fewer options and higher prices for the average consumer, hindering the widespread adoption of EVs.

The ‘blame’, according to Transport & Environment (T&E), lies with car manufacturers prioritising profits over progress. Their focus on pricier models keeps the average price of an EV in Europe 39% higher than in 2015, compared to a significant 53% decrease in China.

So, where are the affordable options? Despite limited choices, the EV market share is still growing. However, the lack of readily available and affordable EVs suggests this growth could easily be double what it is if carmakers and policymakers prioritise mass market adoption. 

I've said for years but where is the Ford Fiesta equivalent in EV form? As a family, we are preparing for our second child arriving late spring/summer and have been considering a second car. It will be electric but as of right now, our choice is limited and I don't particularly want another £450/500 per month lease with an expensive down payment if I can help it. Problem is, there still isn't much choice available at the sub £25k level and I don't think Elon will be rolling the Tesla model 2 off the production line any time soon.

So what is the solution? T&E proposes binding electrification targets for corporate fleets, heavily incentivised to transition to EVs. This, coupled with tax reforms to discourage fossil fuel vehicles, could pave the way for a more inclusive and sustainable future for electric mobility in Europe.

For now though, the question remains, are affordable EVs just around the corner, or will we be kept waiting for a few more years yet? The answer in my opinion will very much depend on collective action from carmakers and policymakers alike. 

Interested to hear your thoughts?