Global Electric Vehicle Sales To Hit Cumulative Mark Of 7.5 Million In 2020

JUL 7 2014 BY ERIC LOVEDAY 18

Chevy Volt Trying To Be Sold

Chevy Volt Trying To Be Sold

Lots Of LEAFs

Lots Of LEAFs

Here’s the latest sales projection for plug-in electric vehicles by the end of 2020: 7.5 million.

That is, there’s predicted to be 7.5 million plug-in vehicles on roads around the globe by the end of 2020, according to Research and Markets:

“Electric Vehicles have been gaining significant attention among automobile manufacturers worldwide due to rapidly growing environmental concerns coupled with highly volatile oil prices. To overcome this problem, achieving sustainable transportation has emerged as a vital mission. Electric vehicles have emerged as the most promising alternative to increased energy security and reduced emissions of greenhouse gases and other pollutants. Thus, electric vehicle sales are anticipated to reach around 7.5 Million Units by the end of 2020, growing at a CAGR of around 19% during 2014-2020.”

12 key markets are analyzed in this report to arrive at that predicted figure.  There’s a chance that the actual figure for 2020 could be lower or higher.  Predicting the future certainly isn’t easy.  How does 7.5 million by 2020 sound to you?  Accurate?  High?  Low?

Read more here: http://www.heraldonline.com/2014/06/09/6040550/research-and-markets-electric.html?sp=/100/773/385/#storylink=cpy

Categories: General, Sales

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18 Comments on "Global Electric Vehicle Sales To Hit Cumulative Mark Of 7.5 Million In 2020"

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jessica

What do you know about it?
It’s time that you stopped posting fanciful news because nobody can know what will take place in 6 years or are you soothsayers?

Trace

Wheaties pissing is such a bad problem in today’s society.

Hope you find the culprit.

Mike
Jouni Valkonen

This does not cosider that Tesla alone has produced cumulatively aroud 2½ million electric cars by 2020.

However this is surprisingly good estimate. typically people are miserably weak in predicting the rapid change in markets.

Jouni Valkonen

BTW, Chevy Volt is considered as an electric car only in US. In the rest of the world it is considered as an ICE car. Small ecodiesel is probably more fuel efficient than Chevy Volt.

David Murray

The Chevy Volt isn’t hardly sold in many places outside of the USA. And it isn’t my fault that people are ignorant of what makes a car electric versus ICE. And there is NO WAY a diesel of any kind will be more efficient than the Volt when it is running on battery power, which most Volts are during their daily drive.

Ben

+1

Jouni Valkonen

Chevy Volt is sold as Opel Ampera in Europe, as Holden Volt in Australia and as Vauxhall Ampera in Britannia. The problem is that is selling miserably outside US as it is not egligible for government incentives as in Europe car tax is determined by carbon emissions.

Anyway, plug-in hybrids cannot never compete with ICE cars or pure electric car, therefore they will remain as niche cars.

David Murray

Yet, plug-in hybrids are still outselling pure electrics..

Jouni Valkonen

Only plug-in car that has considerable market share within its price category, is Tesla Model S.

Mark H

+1

LOL. Show me an “eco-diesel” that gets 200 MPG and allows me to go 3 months between putting 8 gallons of fuel in it.

David Murray

Hmm.. That’s only just over 5 years away. It would take continual growth to achieve that number because right now we’re only sellimg, what, maybe 200,000 per year worldwide?

Right now we are clipping for just under 300K (based on previous years month-over-month performances and this year’s results to date)

“There’s a chance that the actual figure for 2020 could be lower or higher.”
————

I’m guessing a very good chance 😉

Ocean Railroader

This is a unrealistic number in that right now our biggest barrier to this is electric car production is not keeping up with demand they can’t build them fast enough.

Here is a example of this with the Nissan Leaf. What happens is in May they set a all time sales record at 3117 cars sold. Then in June they sold 2300 cars. When the sales record in May happened the people bought up all the inventory on the dealer’s lots. So that by the time June came Nissan was sort the 2000 cars needed to set another all time sales record for the Nissan Leaf.

Another thing that is limiting sales is that Nissan is right now only building 2700 cars a month and sales records are growing month after month. Nissan is going to have to raise leaf production to at least 4000 a month to keep up with demand along with sales to Mexico.

Where not going to reach seven million by 2020 due to battery and electric car production being very limited.

A Reader

As always there will be a bit of a bootstrap problem. Matching production to anticipated demand is always tricky. The Tennessee plant was designed for a capacity of 150,000 Leafs per year. Upping production to match increasing demand should be doable, but it doesn’t happen instantaneously. In the meantime that plant produces a number of other vehicles, so Leaf production may be competing with other models for resources.

First question I had on reading the tittle was context … what markets and who is selling?
(Found this by clicking tab in link provided)

From the list of markets and player, only approx. half will account for large percentage of total EV estimate. One significant oversight is no Chinese manufactures are listed, either because they were though to be minor players, or researcher was focused on a western audience.

Is interesting that this report picked a single number and not a range. eg: for US 1.8-3.1 million in 2020

12 Key Markets:
Canada, China, France, Germany, Japan, Korea,
Netherlands, Malaysia, Spain, Taiwan, UK, US

7 Market Players:
– Ford Motor
– General Motor
– Honda Motor
– Hyundai Motor
– Nissan Motor
– Tesla Motors
– Toyota Motor