High Prices Deter German Consumers From Electric Vehicles
German consumers are turned off by high prices, with 47% of respondents citing excessive costs as the main barrier to buying an electric car, according to a survey commissioned by dpa and published on Sunday. The study found that only 12% of respondents would be willing to pay more than €30,000 for an electric vehicle, highlighting the significant price gap between electric cars and their conventional counterparts. Despite government subsidies, sales of electric vehicles plummeted 27% in Germany in 2024 after a subsidy expired.
- The survey's findings suggest that price remains a critical determinant of consumer behavior in the automotive industry, where the high costs of electric vehicles may be outweighing their environmental benefits for many German consumers.
- As Volkswagen prepares to launch an entry-level electric model at around €20,000, will this new pricing strategy be enough to overcome the perceived cost premium and drive greater adoption among German car buyers?