EU Autos: BEV Pricing Monitor: Good time to buy a (new) EV

Research evidence excerpt

EU Autos: BEV Pricing Monitor: Good time to buy a (new) EV

1 July 2026

EU Autos EquitiesAutomobiles

BEV Pricing Monitor: Good time to buy a (new) EV Global

◆ Cash discounts in UK and Germany; both increased slightly but Pushkar Tendolkar*

still range bound at the 10-12% level GlobalHSBC SecuritiesAutos Analystand Capital Markets (India) Private Limited

pushkarnarendratendolkar@hsbc.co.in

◆ Government incentives of cEUR4-14k and OEM discounts on +91 80 4555 2752

gradually declining list prices make a compelling case for EVs Michael Tyndall*, CFA Senior Global Autos Analyst

HSBC Bank plc

◆ HSBC battery cost tracker down c8% MoM; cost of traditional raw michael.tyndall@hsbc.com

+44 20 3359 6301

materials is currently the bigger risk

Alice Martin*

Global Autos Analyst

Both UK and Germany saw marginal increases in discount rates this month. In HSBC Bank plc

Germany, cash discounts increased 25bp MoM to 10.6% in June. This is now the second alice.martin@hsbc.com +44 20 7992 0175

month of MoM increases in discounts after the 226bp increase in May, but the discount rate

is still largely in line with the long-term average. In the UK, discount rates increased by 52bp * Employed by a non-US affiliate of HSBC Securities (USA) Inc, and is

MoM to 12.0%, slightly up from last month’s 12-month low. The UK’s ECG incentives and not registered/ qualified pursuant to FINRA regulations

customer interest in EVs owing to high fuel prices continues to appear to allow OEMs to

offer reduced discounts. In addition to cash discounts, they continue to offer finance deals

with low annual percentage rates (APRs) which has increased slightly MoM.

Falling EV list prices make government purchase subsidy more attractive. Across the