Electric Car Sales Set To Soar
PDF E-mail
Wednesday, 09 January 2013 18:31




Due to the increased availability of electric vehicles (EVs) since late 2010, annual worldwide sales are increasing and are likely to reach 3.8 million by 2020. This news comes as part of the Electric Vehicle Market Forecast report from Pike Research. 

Dave Hurst from Pike has commented that so far, the sales of EVs have not reached the expectations of manufacturers, but the market is expanding, particularly as fuel prices increase. He states that there will be an annual growth rate of 40% over the next seven years, while normal car sales will increase at just 2% per year.

The report also points out that hybrid cars, which use a combination of petrol and batteries, are likely to be favoured in North America and Latin America due to the requirement for longer range vehicles. However in other parts of the world with denser urban areas, sole battery powered vehicles will outnumber hybrids.