Published on June 30th, 2016 | by James Ayre0
Report: North American’s EV Market Expected To See 62% Year-On-Year Growth In 2016
The North American plug-in electric vehicle market is expected to experience year-on-year growth of around 62% in 2016 — bringing sales numbers up to around 200,000 — according to a new report from Navigant Research.
The new report — Electric Vehicle Geographic Forecasts — also notes that, while electric vehicle (EV) sales in North America to date have been focused around the West Coast, sales numbers in the Northeast are expected to grow rapidly in the near future.
The report singles out the Tesla Model X, the Chevy Bolt, the Toyota Prius Prime (a coming plug-in hybrid), and the Mitsubishi Outlander PHEV as models which will likely drive sales growth in 2016 in North America.
“The long-range BEV under $40,000 is a marked achievement in the industry,” commented Scott Shepard, senior research analyst. “This development is expected to significantly increase PEV adoption past the 1% penetration rate it has struggled to surpass in all but a few markets.”
The press release for the report notes that, since the “launch” of the US electric vehicle market back in 2011, “sales have been concentrated on the US West Coast, but a group of eight Northeastern states is likely to see PEV sales increase considerably as automakers stress BEV deployments and marketing efforts to comply with the region’s mandates for PEV production. According to the report, PEV preferences vary significantly by US region, and consumers in the Northeast appear to demand significantly higher vehicle capabilities and range requirements.”
Those interested in taking a look at an Executive Summary of the report — which “assesses PEV sales and populations in the United States and Canada and provides detailed geographic breakdowns of PEV sales by US state, core based statistical area, Canadian province, and Canadian census metropolitan area” — can find one here.