What Analysts Think About the Future of Electric Vehicle Sales

Global EV sales GAD

Time magazine analyzed the current state of plug-in electric vehicle sales and where they’re going next. There were no big surprises reveled in the story, but it’s always helpful to take a look at what the analysts see going on in the marketplace

• A recent KPMG survey of auto industry executives found that most think plug-in hybrids like the Chevrolet Volt and Honda Accord plug-in hybrid have a greater chance than pure-electric cars in gaining interest from consumers.
• Range anxiety is the leading concern for the Nissan Leaf and its pure-battery EV competitors. Drivers are also turned off by the initial high price. It did help for Nissan to reduce the base price of the new Leaf $6,400.
• Most of the auto analysts think that the cheaper price won’t be enough to bring change quickly. A recent JD Power survey found 94% of US divers saying their next car wouldn’t be a plug-in. Prices need to drop and overall consumer perceptions need to change, and that will take a while.
Other needed trends for greater consumer adoption of EVs include gasoline prices going up into the $6 to $7 per gallon range; the range needs to extend between charges; automakers teaching consumers EVs aren’t difficult to own and operate; charging stations are widespread and accessible; and there’s a lot more faster, or very fast, charging.

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