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Plug-In Electric Vehicle Sales Expected to Rise 50%

| September 21, 2017

Electric Vehicle

A new report anticipates that plug-in electric vehicle sales in North America will rise 50% over 2016 levels. 

While PEV sales are expected to grow quickly in states with zero-emissions vehicle (ZEV) mandates, states and provinces with desirable PEV incentives, less stringent vehicle capability and range requirements, and positive demographic characteristics related to PEVs are also projected to be market leaders.

Overall, in North America, the PEV market has grown by a factor of 10 since 2011, and 2017 is headed toward another record-breaking year, according to a new report from Navigant Research.

“California continues to lead the United States with strong PEV penetration,” says Scott Shepard, senior research analyst at Navigant Research. “However, growth from Northeastern states should pick up soon, and quickly, with increased stringency of ZEV mandates and multiple state PEV purchase rebate programs.”

To date, PEV populations have clustered in urban areas where census data indicates consumers have high levels of educational attainment and wealth, as well as driving patterns well-suited to the current class of PEVs.

According to the report, this correlation is likely to weaken as the used PEV market develops and cheaper PEV offerings enable greater adoption among a wider range of vehicle owners.

Additionally, the expanding PEV population has wide reaching implications for the electric power sector and key industry stakeholders looking to address the needs of this new class of vehicle owner.

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Category: General Update, Green, News

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