Since the officialization of the Renault 5 E-Tech electric planned to cost less than 25,000 euros, some consumers have cried scandal. The newcomer would be much more expensive than the original Renault 5 from 1972, which sold for less than 10,000 francs. And yet, you will see that it is quite the opposite.
Original Renault 5 and Renault 5 Prototype
The new Renault 5 E-Tech electric has been getting a lot of attention since it was made official at the Geneva Motor Show this Monday, February 26, 2024. We had the opportunity to get on board, and tell you our first impressions. In the comments of our YouTube video, many point out that the price of the car is too high.
From 25,000… to 1,484 euros
Renault promises a selling price of around 25,000 euros for the cheapest version, with the small 40 kWh battery which promises 300 km of autonomy. If we dig into the Renault archives, we realize that the Renault 5 L (R5L), with its gasoline engine, sold in 1972 cost less than 10,000 francs. 9,740 francs to be more precise.
If we report this price in euros, with a simple conversion, it gives 1,484 euros. Or 17 times cheaper than the 25,000 euros claimed by Renault. Yes, but since 1972, things have happened. Inflation, in particular, but also the rise in the standard of living with the evolution of wages.
The electric R5 is cheaper
In 1972, an hour of work at the minimum wage was paid 4.3 francs gross according to the IPP. Compared to 11.65 euros currently, in 2024. To buy the Renault 5 in 1972, you had to work 2,265 hours at minimum wage. Against 2,145 hours at the minimum wage in 2024. And again, this is without taking into account the ecological bonus of 4,000 euros, which lowers the bill to 21,000 euros.
Renault 5 E-Tech Electric // Source : DPPI
It only takes 1802 hours. If you are entitled to the super bonus of 7,000 euros reserved for more modest households, the counter drops to 1,545 hours. In other words, a Renault 5 has perhaps never been as affordable as in 2024.
We had also carried out the same calculation for the future electric Renault Twingo at 20,000 euros. And the conclusion was similar. That's not to say that cars aren't too expensive, no. But it is not true to say that a new car from 1972 was more affordable than its 2024 counterpart.