Automotive Whitepaper: Plug-in EV Sales - How Close is the USA to a Tipping Point?
The long-muted explosion in plug-in electric vehicle (PEV) sales now seems closer than ever. A plethora of new models appears set to launch in the next two years from almost every major OEM, not to mention a handful of ambitious new battery electric vehicle (BEV)-only start-ups. The key question on the minds of many in the industry is whether these products will gain traction in a US market that is forecast to decline in overall size, maintain low oil prices, and continue to observe significant regional variations in uptake.
THE STATUS QUO FOR PEV SALES
IN THE US In 2016, just fewer than 160,000 PEVs were sold in the United States, of which roughly 105,500 were pure BEVs and the rest plug-in hybrid electric vehicles (PHEVs). Considering these figures in the context of the global stage, this puts the country seventh on the latest edition of the IHS Markit Plug-In EV Index, with a PHEV market share of 1.1% in fourth-quarter 2016. IHS Markit forecasts for 2017 anticipate this market share to remain broadly constant.
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