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Leading EV models gaining significant market share

Date
26 July 2013
Leading EV models gaining significant market share

NEW YORK: On top of growing sales, top electric vehicle (EV) models such as the GM Volt, Nissan LEAF and Tesla Model S are gaining meaningful market shares in their respective classes, new research by the Electrification Coalition shows.

There have been more than 110,000 EV sales in the US since 2011. This represents an uptake rate of more than double that for hybrids during their first years on the market, according to State of the Plug-in Electric Vehicle Market.

Other findings from the report include:

  • Tesla’s Model S claimed 8.4% of the luxury market in the first half of 2013, with more sold than some in-class competitors such as the Audi A8, BMW 7-series and Mercedes S class
  • The Nissan LEAF accounts for 3.3% of the sub-compact vehicle market
  • By 2020, battery costs are expected to drop by about half, reaching an industry average price of US$300-325 per kilowatt hour.

Robbie Diamond, President and CEO of the Electrification Coalition, said: “The research shows that consumers love their electric vehicles and that EVs are well on their way to establishing a meaningful position in the overall automobile market. Electric vehicles are the key to reducing America’s dangerous dependence on oil, and their strong early sales and earned consumer satisfaction bode well for improving our nation’s energy security in the years ahead. However, we continue to believe that public policy, including greater funding for research and development, should play a stronger role in supporting this vital technology.”

Evan Juska, Head of US Policy, The Climate Group, said: “This report documents encouraging growth in the US EV market to date. And its findings of high levels of consumer satisfaction combined with declining prices bode well for the future. It should be a key resource for those tracking the development of this important technology in the coming years.”

Read State of the Plug-in Electric Vehicle Market

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