Five electric cars, how prices have changed in two years

When they were launched on the market, some electric car models, such as the Teslawere the cars of the moment as they were expensive and considered almost reserved for an elite. Today, their list price has generally dropped. However, in the last two years, the electric car market has experienced a phase of transformation, influenced by multiple factors including economic and political ones. After the hint of a post-pandemic recovery, the industry immediately faced rising raw material costs and growing inflation as well as a new variable: European duties on Chinese electric cars. These taxes applied to imported products, which concern one of the main production sites of zero-emission vehicles, are still changing the dynamics of the automotive market, with repercussions both on prices and on corporate strategies. To better analyze the situation of the electric car market, which is not taking off, five of the top ten best-selling 100% battery-powered car models in Italy in 2024 were taken into consideration. The Unrae report, dated 31 October 2024, sees in the ranking: Tesla Model 3, Tesla Model Y, Fiat 500e, BMW iX1, and MG4 Ev.

Tesla Model 3

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Since its launch in 2017 the Tesla Model 3 has become a significant model for the electric car market. Its prices in 2022 were quite high: the Rwd trim was sold at 58,470 eurosthe Long Range Dual Motor AWD a 65,470 euros and the Long Range Performance AWD a 68,470 euros. The updates have been different over the years but the most significant remains the 2023 Project Highland, which introduced design changes and efficiency updates. In 2024, Model 3 registrations in Italy have reached 7,066 unitsequal to 13.2% of total electric car sales (data processed by Unrae as of 31 October 2024). Nowadays the Model 3 is available in several variants: the NV35 Rwd Premium trim costs money 40,970 euro, the Long Range Rwd is offered at 45,970 eurosthe NV35 Long Range Awd a 49,970 euros and the NV35 Performance Awd a 58,470 euros.

Tesla Model Y

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The next model produced by Tesla has a lot in common with the Model 3, from which it was essentially born. The Tesla Model Y is an electric crossover that has seen some minor changes over the years as the company tends to work on incremental updates rather than complete redesigns. Prices for the 2022 model were as follows: The Rwd trim was worth 50,970 eurosthe Long Range Awd was expensive 66,970 euroswhile the Performance AWD version was offered at 72,970 euros. In 2024, Model Y registrations in Italy have reached 6,181 unitsequal to 11.6% of total electric car sales (data processed by Unrae as of 31 October 2024). Prices have been revised and this year the Rwd version comes to 43,670 eurosthe Long Range Rwd a model 49,970 eurosits all-wheel drive sister to 52,970 euros and finally the Performance model also with all-wheel drive a 58,970 euros. A restyling is also planned for Elon Musk’s crossover with an update plan currently unknown, although it is hypothesized that this project, perhaps called “Project Juniper”, could be similar to that of the Model 3 Highland with limited but targeted interventions.

Fiat 500e

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They represent 3.7% of 2024 sales, i.e 1,957 units (Unrae data as of 31 October 2024). The Fiat 500e, also known as the electric 500, had a price in the October 2022 price list that varied from the basic version to 29,950 euros up to the more expensive convertible variant, proposed at 39,650 euros. Not a sedan price like the Model 3, but not even a particularly accessible car for Italian families, considering that it was close to the average family income in 2022, equal to 35,995 euros (data Istat). As for restyling, on 6 June 2024 Fiat launched a special “Mirafiori” series of the electric 500, intended for the Italian market. This version stands out with details also in collaboration with famous Italian brands such as the dedicated logo and interiors with alternative materials. The special series also offers updated technological equipment, with improvements in connectivity and driving assistance systems. Prices in 2024 range from 29,950 euros to 41,500 euroswithout significant changes compared to a couple of years ago.

BMW iX1

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Recently created, the BMW iX1 is the fully electric version of the Bavarian company’s compact SUV. At the moment it has not undergone any official restyling and is still in its first generation. In 2022 it was announced in three different configurations with the following list prices: xDrive 30 a 57,200 eurosxDrive 30 xLine a 59,670 euros and xDrive 30 M Sport a 61,150 euros. It is in fifth place in the 2024 ranking of electric car sales in Italy (Unrae data as of 31 October 2024), with 2,019 copies sold, corresponding to 3.8% of the market. Until 2024, BMW has mainly released technology updates and software improvements, but a more significant restyling is expected in the coming months. Nowadays, according to the May 2024 price list, the prices are as follows: for the iX1 eDrive 20 they are 47,900 euroswhile for the iX1 xDrive 30 58,800 euros.

Mg4 Electric

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The hot topic of recent months has been the European Union’s tariffs on Chinese cars. At the end of October 2024, the new regulations were announced which will come into force for the next five years and which will entail a substantial increase in prices for electric cars in Europe, with repercussions on the entire production chain. In this context, the MG4 EV model, belonging to the Chinese Saic group and on sale from 2022, could be one of the most affected by the European duties. To date, the MG4 Ev has not undergone a real restyling and the current model remains very similar to the original 2022 version, launched on the market in three different configurations: Standard 51 kWh a 29,990 eurosComfort 64 kWh a 33,990 euro and Luxury 64 kWh a 35,990 eurosprice list for September 2022. At the moment, in 2024, it occupies 3.2% of the electric car market in Italy, corresponding to 1,723 units sold. Prices in 2024, probably not yet impacted by the new duties but only by market movements, and range from the Standard49 version to 31,790 euros to the XPower Awd 64 kWh a 42,290 euros.