FRANKFURT, June 27 (Xinhua) -- The price gap between electric vehicle (EV) and internal combustion engine vehicles (ICEV) has narrowed significantly in Germany, with price equality expected before 2030, a new industry report has shown.
EVs are now selling for 3935 euros more than ICEVs in Germany, whereas in 2008 when EVs were introduced in the country they were 15,000 euros more expensive than ICEVs, according to a half-year report from Car-Center Automotive Research in Bochum shared with Xinhua on Friday.
A scaling effect on the EV market, price competition among different car brands, and improved production technologies are believed to be factors driving down EV prices.
After studying the price developments of cars sold in the German market, the report concluded that the transaction price rose slightly again in June, a sign that there has been a slight recovery of car sales.
New passenger car registrations climbed by 1 percent year on year to 239,297 units in May, according to figures published by the Association of the Automotive Industry in Germany.
New registrations of EVs in Germany have posted strong growth this year, with registrations of battery electric vehicles and plug-in electric vehicles rising by 56 percent in May, and by 47 percent during the first five months of this year.
The price difference between EVs and ICEVs has long been considered one of the key factors hindering EVs sales in Germany. ■
