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Europe Average Earners look for more Affordable cars: In Paris Auto Show Only Few Contenders for it
Europe Manufacturers traditionally their focus was to produce premium models and segment, hence these companies never focused much on affordable cars.
When comes to Europe's electric car market, it is in its early stage and it look quite healthy, but the real test would be when it comes to long term success.
When comes to Europe's electric car market, it is in its early stage and it look quite healthy, but the real test would be when it comes to long term success. For long term success both cars as well as SUV must be affordable, only then average wage earners and buy them. But unfortunately, at Paris Motor, there are only few contenders for it.
The forecast suggests that, nearing to 65% of new car as well as SUV sales in Europe by 2030, it would be all electric, mass market sales are crucial. (West European battery-electric market share has zoomed from 2.5% in 2019 to 6.7% in the year, 2020 and11.2% in 2021, when sales hit 1.2 million.
Sales would advance to just under 1.5 million this year and just over 1.5 million in the year, 2023 as per the Schmidt Automotive Research.
Europe Manufacturers traditionally their focus was to produce premium models and segment, within which Price sensitivity was low. Thus, there was very less progress in reducing EV prices across the market and it was causing consumers to rely heavily on government incentives.
