It’s not news to anyone that prices are falling in the automotive world, in fact, just look at the successive price cuts on Tesla’s ever-popular Model 3. However, the manufacturer that for many years was confused with the electric car itself is not alone in this “war”.
In fact, this war will most likely lead to a complete price revolution. After all, if the electric car drops in price significantly, all other cars will also have to drop in price, even if at a slightly more moderate level.
Price war has reached electric cars?
So, in case you didn’t know, in addition to the changes in the VW group’s prices in their IDs, price cuts at Volvo, and never forgetting the electrical effort with the e-C3 on the part of Citroen, the reality is that we also have some news on the Renault.
Why a price war?
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Well, it is undeniable that price continues to be one of the biggest obstacles to the democratization of 100% electric mobility. Therefore, as technology evolves, and production becomes significantly cheaper, prices must fall.
However, it is easy to say that no one expected such an abrupt drop to the point of triggering a price war. In other words, at a time when market developments do not seem to be able to move things forward, brands have some desire to give a push.
This is what happened with Tesla, in what was the beginning of this “price war”. After all, without prior notice, the North American manufacturer decided to lower the price of several vehicles, in all regions, in a very significant way. Especially in vehicles closer to users’ wallets, such as the Tesla Model 3, or the Tesla Model Y.
It was around here that Tesla had a very interesting year and 2023 in terms of sales, and of course, it is also around here that other manufacturers also started to lower prices, to try to compete in a slightly more competent way.
Even Renault has already bet on price cuts!
The French giant renewed its Spring with an even lower price, and also reduced the price of the Mégane E-Tech by more than 5 thousand euros. In fact, this compact family car is now one of the most attractive electric vehicles in the segment.
Never forgetting the Renault 5, which will appear in a 25,000 euro version, well equipped, and capable of covering at least 300 kilometers, at the beginning of next year.
Chinese manufacturers will increase the level of this war!
The Xiaomi SU7 hasn’t arrived yet but it has already shaken the market. However, in case you don’t know, there are many other Chinese manufacturers, willing to invade Europe with interesting alternatives, at attractive prices.
One of these manufacturers is BYD, which, against some expectations, is making waves in Portugal.
The market is really going to change! Starting with the prices!
First of all, what do you think about all this? Are we really in a price war? Share your opinion with us in the comments box below.
