EV Prices Plummet: Major Manufacturers Slash Costs by Up to €7,000
Electric vehicle (EV) manufacturers are slashing prices, making them more affordable than ever. In February 2023, five major brands reduced their EV prices, with some cuts reaching up to 7,000 euros. Meanwhile, charging an electric car costs less than refueling with petrol.
MG led the price drop with a 4,000 euro reduction on its MG 4 model. Kia followed suit, discounting its Niro by 4,615 euros. Cupra reduced the price of its Born 77kWh by 5,040 euros, while Volkswagen cut the price of its ID3 by a substantial 7,010 euros. Tesla, known for its premium models, reduced the price of its Model Y by 3,000 euros since early January 2023.
In addition to these well-known brands, BYD also offered a significant discount of 5,410 euros on its Atto 3 car. These price reductions bring EVs closer in price to conventional combustion cars, thanks in part to purchase incentives of up to 7,000 euros available in Spain.
The recent price cuts by major EV manufacturers, along with lower charging costs compared to petrol, make electric cars more accessible than ever. With purchase incentives in Spain, consumers can now consider EVs as a more affordable and sustainable option.
