While generally the electric vehicles so far have not seen the great traction the automakers hoped for, 2014 seems to be a good year for the segment, with sales advancing at faster rate.
As the plug-in electric vehicle (PEV) segment is getting better traction each month since the start of 2014, the best performers are – surprisingly – the premium offerings, which are likely to grow at a faster rate than the general segment for the remainder of the year.
According to data, deliveries in the United States for PEVs jumped 24% in the first three months of the year, reaching an overall market penetration of 0.6% of new light vehicle sales. On the other hand, taking into account luxury models in the segment – although the general ones aren’t exactly “cheap” either – we can see that market penetration actually reaches almost 3% of new vehicles sold. And that entire prowess comes courtesy of one company and model – Tesla’s Model S owns 94% of the high-end EV segment. The rest consists of just two models – the Cadillac ELR and the Porsche Panamera S E-Hybrid, which are both plug-in hybrids.
And the gains in the luxury segment of EVs are slated to increase in the future – not only from Tesla’s growing sales, but also because of fresh competition. First off comes the recently developed BMW “i” sub brand, which has two models under its skin, while Mercedes is fending off the smaller model – i3 – with its electric version of the B Class. Next up, Audi and Volvo would bring their own offerings on the US market.