Sales of EVs in the US Will Grow Strongly by 2020 image

A report from Pike Research shows that 410, 000 plug-in electric vehicles will be sold between 2011-2015 in the US, and total sales will not reach 1,000,000 mark by 2018.

Since the Obama Administration claimed in the transportation policy that by 2015 it will put 1 million EVs on the US roads, automakers in the US and Japan boosted production of plug-in electric vehicles in the last two years to meet this target. But they didn’t expect that expanding PEV sales and launching new models will be so difficult and face so many challenges. But they expect sales are expected to increase by 2015 and even reach 1 million vehicles per year in 2017, and 1.7 million units by 2020.

“While it is true that plug-in electric vehicles have seen delays in arriving on the market and have sold in fewer numbers than originally anticipated, we expect strong growth as global PEV sales volumes will nearly triple between 2012 and 2014,” says research director John Gartner. “Automotive companies have made a strong commitment to electric vehicles, and their viability as a transportation platform is no longer in doubt.”

Although the PEV sector offers long-term prospects and security, the industry stays focused on growing cautiously, according to the market demand.