Countdown to 2023: Price hikes for electrified vehicles outpace combustion counterparts
MSRPs for electrified vehicles vs. non-electric vehicles, indexed and mean prices (volume-weighted).
As we countdown to 2023, we are sharing (near) daily information pieces, using data from Global Auto Demand Tracker. The other day we received a question from a vehicle manufacturer about the pace of price-increases for electrified vehicles vs. non-electrified vehicles. Data in Global Auto Demand Tracker enables answering that question: Since about 2021-Q4, prices for electrified vehicles significantly outpaced their internal combustion counterparts, largely owing to battery material prices.
Another question we wondered about was about prices for electrified vehicles which are on average about $15-20K higher than their internal combustion counterparts.
With Global Auto Demand Tracker, we will continue to watch this space as we are counting down to 2023. For more information or a free trial click here.
This article was published by S&P Global Mobility and not by S&P Global Ratings, which is a separately managed division of S&P Global.