Energy Procurement, Industrial - June 30, 2016
Tesla, Chevy, Prius, Mitsubishi models expected to drive 62% YOY growth in electric car sales
, according to a new report.
The Navigant Research report suggests significant growth is expected in the plug-in electric vehicle, or PEV, market, driven by sales of the Tesla Model X; the second-generation Volt and by the introductions of the Chevrolet Bolt 200-mile range battery electric vehicle, or BEV; the Prius Prime plug-in hybrid electric vehicle or PHEV; and the Mitsubishi Outlander PHEV later in the year.
“The long-range BEV under $40,000 is a marked achievement in the industry," Scott Shepard, senior research analyst for Navigant said in a statement. "This development is expected to significantly increase PEV adoption past the 1% penetration rate it has struggled to surpass in all but a few markets."
Since the PEV market launched in 2011, sales have been concentrated on the West Coast, but a group of eight Northeastern states is likely to see PEV sales increase considerably as automakers stress BEV deployments and marketing efforts to comply with the region’s mandates for PEV production, according to the Navigant. The report indicates that preferences vary significantly by U.S. region, and consumers in the Northeast appear to demand significantly higher vehicle capabilities and range requirements.
The report, Electric Vehicle Geographic Forecasts, assesses PEV sales and populations in the United States and Canada and provides detailed geographic breakdowns of PEV sales by U.S. state, core based statistical area, Canadian province, and Canadian census metropolitan area. An executive summary of the report is available for free download here.