Electric vehicle trendsetter Tesla Motors got dinged just a bit based on a new assessment of softer market demand from Morgan Stanley analyst Adam Jonas. None the less the company continues forward with plans to role out their new premium-electric Model S sedan. The new car is being pre- introduced around the country and will sell for $50,000, half the price of their Roadster. According to a recent report from Pike Research, hybrid electric vehicles (HEVs) and plug-in electric vehicles (PEVs) combined will represent 3.1% of worldwide auto sales by 2017. Thanks to higher penetration rates in the United States, HEVs and PEVs will account for 5.1% of total U.S. vehicle sales in 2017.
Within the United States, the PEV market is currently led by two key models, the Chevrolet Volt and Nissan Leaf. However, Pike Research anticipates that Ford’s model diversification and recharging equipment strategy will shake up the market. Ford will likely take the market lead by 2017 with 23.6% PEV market share. Toyota (with a plug-in version of its popular Prius) and General Motors will likely find themselves fighting for second with 21.1% and 20.7% market share, respectively. The early market for electric vehicles is proving that demand for the vehicles exists across the globe. The combination of consumer purchase incentives, rising fossil fuel costs, and exciting new vehicle models is fueling a strong early adopter market. Production of electrified vehicles is gearing up all over the world, and automakers are planning to launch an increasing variety of new models over the next few years.
Overall, the Asia Pacific region is expected to experience the most rapid growth in the number of plug-in electric models, followed by Europe and North America. There will be 26 models of PEVs available in Asia Pacific by the end of 2011, compared to 23 models in Europe and ten in North America. However, strong demand for hybrid electric vehicles (HEVs) in North America will lead to the availability of 40 models by the end of 2012, versus 14 HEV models in Asia Pacific.
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