Study Finds Hybrid and Electric Vehicle Sales Will Exceed 17M by 2020

Study Finds Hybrid and Electric Vehicle Sales Will Exceed 17M by 2020

Report finds that electric car manufacturers are prioritizing range as the key issue, since consumers' "range anxiety" is the greatest hindrance to the adoption of electric vehicles.

tesla

A new study from Juniper Research, located in the U.K., forecasts that nearly 17 million hybrid and electric vehicles will be on the road by 2020, up from an estimated 12 million last year.

Juniper believes that stakeholders primarily need to establish the viability and desirability of electric vehicles with consumers and adopt an aggressive “go-to-market” strategy that includes:

  1. The rolling out of a wide-scale public charging infrastructure – that is seen as both ongoing and committed.
  2. Improving vehicle battery life and range per charge.
  3. Conducting effective consumer education campaigns, with attractive incentives to change.

Tesla & Chevrolet Lead the Charge on Vehicle Range

The new research, “Hybrid and Electric Vehicles: Consumer and Commercial Markets,” found that electric car manufacturers are prioritizing range as the key issue. OEMs such as Tesla and Chevrolet understand that “range anxiety” is the greatest hindrance to the adoption of electric vehicles. In order to meet the expectations of the combustion engine vehicle market, Tesla and Chevrolet have focused their efforts toward ensuring that their models’ mileage range can exceed 200 miles on a fully charged vehicle.

Who Leads the Electric Vehicle Market?

Juniper Research ranked the top five electric vehicle manufacturers, scoring them on five key factors: vehicle range (EPA rated mileage), vehicle sales, infrastructure implementation, time spent in development and deployment, and future plans and innovation.

The top-ranked manufacturers were:

  1. Tesla
  2. BMW
  3. Nissan
  4. Chevrolet
  5. Ford

Tesla, an OEM solely manufacturing electric vehicles, scored highly with strong sales, superior mileage range and firm commitment to their Tesla Supercharge scheme. While BMW and Nissan have witnessed high sales, their electric vehicle capabilities lag behind Tesla.

Consumer Confidence & Education 

Additionally, the research highlighted the urgent need to invest in consumer education focusing on the capabilities and benefits of electric vehicles, as well the need for an aggressive investment plan to install public charging outlets on all major routes. It’s recommended that OEMs take an active role in this education process, investing in campaigns to communicate the capabilities and benefits of electric vehicles in order for them to be viewed as a real alternative to combustion engines.

The complimentary whitepaper, “Electric Vehicles Going the Extra Mile,” is now available to download from the Juniper website together with further details of the full research.

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