Study shows electric and petrol car prices gap narrowing in Germany

FRANKFURT - The price gap between electric cars and comparable combustion engine models in Germany is narrowing, according to a new car market study released on Wednesday.

The price difference among the 20 top models on the German market shrank by around €1,100 (US$1,153) in November compared to October, a study by the private Centre for Automotive Research (Car) showed, the German news agency dpa reported.

On average, new car buyers still have to pay an additional €5,583 for a fully electric battery vehicle compared to a combustion engine one.

The so-called transaction prices, which are the list prices minus openly advertised discounts, were taken into account.

According to study leader Ferdinand Dudenhöffer, EU regulations are forcing manufacturers to sell a proportionately higher number of electric vehicles from next year.

Otherwise, they face high penalty payments.

Delaying the regulation's start, as demanded by the industry, would once again slow down the sales of electric vehicles, the car expert warns.

For the coming months, the centre expects a slight increase in the electric vehicle share in the German market. In October, it stood at 15.3 per cent.

However, the abrupt end of the state environmental bonus for purchasing electric cars at the beginning of the year continues to have an effect. - BERNAMA - DPA