Economics obama-electric-car

Published on August 29th, 2011 | by Andrew Meggison

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Report Predicts President Obama’s Electric Car Goal Short By As Little As One Year

 

A Colorado based research firm says that there will be 1 million pure plug in electric cars on American roads by the end of 2016 or start of 2017, meaning that President Obama’s goal of havine 1 million plug-in cars on roads by 2015 will be short by a year or less.

President Obama publicly stated that one of the many goals for America was to have 1 million electric cars on the roads by 2015. “Electric Vehicle Market Forecasts” a research report put out by Pike Research, a clean tech analyst firm, in Colorado puts the 1 million goal closer to 2017–  figuring sales of plug in eclectic vehicles will be 667,000 by 2015, 289,000  by 2016, and will reach 303,000 by 2017.  The firm has based its analysis on current available knowledge and practices—specially putting aside personal and political biases.

Currently plug in electric sales have not taken the market by storm. Pike believes the total number of electric vehicle and plug in hybrids sold in 2011 will be just 20,500. General consumer concern over new technology plays a part in this but so does the lack of supply of pure plug in electric cars.

Companies continue to delay the introduction of plug in electrics and currently there are only two mainstream models out there, the Nissan LEAF and the Chevy Volt. With limited choices come a limited supply and thus a limited number of units that can be sold to consumers. However, Pike anticipates the plug in eclectic market to pick up in 2013 once Volkswagen, BMW, and Hyundai get into the plug in electric car game. The emergence if Toyota and Honda plug in electric vehicles will play a major role as well.

Pike’s report goes on to state that even with plug in electric vehicles hitting the 1 million mark by 2017 that only amounts to 0.8% of the U.S. auto market while plug in hybrids will amount for about 1%. Small percentages, but given the fact that plug in electric vehicles come with a high price tag and the lack of consumer confidence, any growth is in the plug in electric market is taking a glass half full approach.

Pike predicts that plug in hybrid sales will continue to increase out pacing the growth of pure plug in vehicles.  Currently there are more than 1 million gas powered Prius’ on the road in the United States. With the release of the Prius Plug In, Pike predicts that many of the current Prius owners will convert to the Prius Plug In and buyers who have been waiting for such a plug in hybrid from Toyota will jump on it.

Also, with rumors suggesting that the Prius Plug In could come in at $30,000, non Prius and alternative fuel vehicle enthusiasts could be interested and just might break with tradition and transition into the future by making the Prius Plug In the new family car.

Source: plugincars.com | Image: Whitehouse.gov

Andrew Meggison was born in the state of Maine and educated in Massachusetts. Andrew earned a Bachelor’s Degree in Government and International Relations from Clark University and a Master’s Degree in Political Science from Northeastern University. Being an Eagle Scout, Andrew has a passion for all things environmental. In his free time Andrew enjoys writing, exploring the great outdoors, a good film, and a creative cocktail.

 

 


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About the Author

Andrew Meggison was born in the state of Maine and educated in Massachusetts. Andrew earned a Bachelor's Degree in Government and International Relations from Clark University and a Master's Degree in Political Science from Northeastern University. In his free time Andrew enjoys writing, exploring the great outdoors, a good film, and a creative cocktail. You can follow Andrew on Twitter @AndrewMeggison



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