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Jan 07, 2013 NEWSwire
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PHOTO CAPTION: Plugged in Ford electric vehicle.

Electric-Drive Vehicle Sales Forecast at 3.8 Million Annually

Pike Research forecast for 2020 includes worldwide sales of electric and hybrid class vehicles, with the company reporting plug-in electric sales reaching 120,000 in 2012.

Published: 07-Jan-2013

Since the launch of the Nissan Leaf and Chevrolet Volt, in late 2010, plug-in electric vehicles (PEVs) have become more widely available. Hybrid electric vehicles (HEVs), which first appeared a decade earlier, are now selling steadily. According to a new report from Pike Research, annual worldwide sales of these vehicles, collectively referred to as electric vehicles (EVs), will reach 3.8 million by 2020.

The Ford Fusion Energi that I wrote about yesterday, with its 108 MPGe, promises to help with these sales estimates. Although it isn’t talked about much, the Ford Escape hybrid is a solid HEV. I’ve had one for nearly seven years with very few problems.

Dave Hurst, senior research analyst with Pike Research, explains that overall sales of EVs have not lived up to automakers’ expectations nor politicians’ proclamations. But the market is expanding steadily as fuel prices remain high and consumers increasingly seek alternatives to internal combustion engines

“Indeed, sales of plug-in EVs will grow at a compound annual growth rate of nearly 40 percent over the remainder of the decade, while the overall auto market will expand by only two percent a year.” — Dave Hurst

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