Family electric cars: what is the reason for a spectacular drop in prices in recent weeks

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In a few weeks, the price of the main family electric vehicles has decreased considerably.

Brands are forced to react to customers who consider these cars to be too expensive.

Renault, Volkswagen, Skoda… each brand has its own electric family car

From 2023, most major car manufacturers offer at least one electric family car in their range.

Renault has been selling its compact Mégane E-Tech since 2022 and is currently launching the Scénic E-Tech, a larger SUV. Volkswagen has been marketing its compact ID.3 and its ID.4 SUV since 2020.

Skoda has an SUV very close to this ID.4 (the Enyaq), the Korean brands Hyundai and Kia offer their Ioniq5 and EV6 and Tesla is causing a stir with its Model Y that now dominates the global market.

But while the American manufacturer is overwhelmed by orders, European brands are struggling to convince customers with their figures. Due to lower than expected orders (in particular Volkswagen, which had to stop production at its German factories on several occasions), these European brands are forced to review their strategies.

The Renault Mégane E-Tech (©DR)

Big price drops

In France (and elsewhere), Volkswagen has just significantly lowered the price of its electric models. Available from €42,990 just a few weeks ago, the compact ID.3 is now trading from €39,990 before the bonus (i.e. €34,990 after deduction of the 2023 ecological bonus still valid at the time of writing these lines).

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Its older brother, the ID.4, now has a starting price of €43,990 before bonuses, and even €45,990 with a large 77 kWh battery that allows a maximum range of 550 kilometers.

The Volkswagen ID3
The Volkswagen ID3 (©DR)

For a large and generously equipped model that previously cost more than 50,000 euros, the drop is significant. At Renault, the Mégane E-Tech costs a total of 4,000 euros less and is now sold for 34,000 euros before bonuses in its basic version and 41,000 euros with its 60 kWh batteries and a good level of equipment. The new Scénic starts at just under 40,000 euros and costs 46,990 euros in its Long Range version, a really well-placed price taking into account the size of its batteries (87 kWh, range of 625 km) and its equipment.

Even at Tesla, the big Model Y has just lost 3,000 euros and costs 42,990 euros. Did the American manufacturer fear this new European competition?

The Tesla Y
The Tesla Y (©DR)

More convincing cars… and harmed customers?

Obviously, it will be the first buyers of these cars who will shudder to discover these generous price reductions: those who received a Renault Mégane E-Tech or a Volkswagen ID.4 before the end of 2023 have paid between €4,000 and €4,000 for their car. 8,000 more (depending on version) compared to current prices. The observation was the same for buyers of the Tesla Model 3 in 2022, just before the car dropped its price by almost 10,000 euros in just a few months.

The Volkswagen ID4
The Volkswagen ID4 (©©DR)

The electric car market is still relatively young and the price adjustments in it are currently spectacular.

But between these price reductions on family models and the upcoming arrival of cheaper electric city cars (the Citroën ë-C3 and Renault 5 E-Tech in particular), these electric cars seem to finally become competitive with thermal models.

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