Ford, Toyota Will Lead Plug-in Electric Vehicle Sales in the U.S. Through 2020, Forecasts Pike Research
BOULDER, Colo.--(BUSINESS WIRE)-- Assembly lines in Japan and the United States produced more than 20,000 plug-in electric vehicles (PEVs) in 2011, an all-time record for such vehicles. But optimism about the market for PEVs has gradually been replaced with a better understanding of the practical challenges of launching new models and expanding PEV sales to mainstream consumers unfamiliar with the technology. Nevertheless, according to a recent report from Pike Research, a part of Navigant's Energy Practice, sales of PEVs in the United States will climb steadily over the remainder of this decade.
Automakers Ford and Toyota will lead the PEV market in terms of total vehicles sold in the U.S. from 2012 to 2020, the study concludes.
"Despite the early introduction of the Leaf, from Nissan, and the significant marketing push behind it, we expect Nissan to trail Toyota, Ford, and General Motors by a significant margin through the end of the decade," says research director John Gartner. "Although Ford has been relatively slower than some competitors to enter the passenger PEV market, its future plans are ambitious, and it will be the only automaker to surpass 400,000 PEVs sold in the United States through 2020."
PEV sales in the United States will reach nearly 48,000 units in 2012, making the United States the country with the highest number of PEV sales. The country will maintain this leading position at least through 2020 - and beyond, according to the report. Worldwide sales of PEVs are expected to surpass 1 million units in 2017, after 7 years in the market - about half the time it took hybrid electric vehicles to reach that level.
The report, "Plug-in Electric Vehicles", examines the global market landscape for PHEVs and BEVs, including a detailed analysis of market drivers and barriers, technology issues, policy and regulatory factors, and the competitive landscape of original equipment manufacturers and key suppliers. Detailed market forecasts are provided through 2020, segmented by world region and vehicle category. An Executive Summary of the report is available for free download on the Pike Research website.
About Pike Research
Pike Research, which joined Navigant's global Energy Practice on July 1, 2012, provides in-depth analysis of global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Grid, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Pike Research can be found at www.navigant.com/pikeresearch.
Navigant (NYS: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, "Plug-in Electric Vehicles," is a summary and reflects Pike Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Pike Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
KEYWORDS: United States North America Colorado
The article Ford, Toyota Will Lead Plug-in Electric Vehicle Sales in the U.S. Through 2020, Forecasts Pike Research originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.