Plug-in electric vehicle market to grow 62% year over year – Navigant

While plug-in electric vehicle sales have been concentrated on the US West Coast, adoption in Northeastern states expected to grow

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BOULDER, Colo.- A new report from Navigant Research forecasts significant growth in 2016 American plug-in electric vehicle sales, driven primarily by sub-$40,000 PEVs.

The study assesses plug-in electric vehicle sales and populations in the US and Canada, providing detailed geographic breakdowns of sales and scenario-based forecasts.

In 2016, growth will be driven by sales of the Tesla Model X, the second-generation Volt, and by the introductions of the Chevrolet Bolt 200-mile range battery electric vehicle, the Prius Prime plug-in hybrid electric vehicle, and the Mitsubishi Outlander later in the year.

“The long-range battery electric vehicle under $40,000 is a marked achievement in the industry,” says Scott Shepard, senior research analyst. “This development is expected to significantly increase plug-in hybrid electric vehicle adoption past the 1 per cent penetration rate it has struggled to surpass in all but a few markets.”

Since the plug-in electric vehicle market launched in 2011, sales have been concentrated on the U.S. West Coast, but a group of eight Northeastern states is likely to see sales increase considerably as automakers stress battery electric vehicle deployments and marketing efforts to comply with the region’s mandates for plug-in electric vehicle production.

According to the report, preferences vary significantly by U.S. region, and consumers in the Northeast appear to demand significantly higher vehicle capabilities and range requirements.

The study assesses plug-in electric vehicle sales and populations in the US and Canada and provides detailed geographic breakdowns of sales by US state, core based statistical area, Canadian province, and Canadian census metropolitan area.

Forecasts are provided under three scenario conditions (conservative, base, and aggressive), alongside results from Navigant Research’s annual Electric Vehicle Consumer Survey.

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