Sales of Electric Vehicles to Reach 1.8 Million by 2023
Sales of plug-in electric vehicles (PEVs) are expected to accelerate in the Asia Pacific region and when combined with sales in the U.S., Canada and Western Europe, total annual sales are anticipated to reach 1.8 million by 2023.
According to Navigant Research, which issued the results, current PEV sales are currently at 352,000 for 2014.
“PEVs are becoming more available and more price-competitive, both geographically and in vehicle segments outside of small and luxury car classes,” says Scott Shepard, research analyst with Navigant Research.
“That is expanding the universe of potential PEV buyers beyond the narrow demographics of early adopters to a wider market that is similar to that for hybrid electric vehicles,” he added.
Some anticipate that PEVs are better suited to urban areas, as vehicle range requirements are typically shorter in these communities.
Category: Featured, General Update
Subscribe
If you enjoyed this article, subscribe to receive more just like it.
