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Electric Vehicles Sales to Cross the 1 Million Mark by 2015

As many automakers move into the plug-in electric car market, they will find they are competing with a wide range of competitive options and brand loyalty.

Electric Vehicles Sales to Cross the 1 Million Mark by 2015
Automakers are on the verge of mass-marketing plug-in electric vehicles worldwide, including both plug-in hybrid electric vehicles (PHEVs) as well as battery electric vehicles (BEVs). These vehicles offer improved fuel economy, lower emissions, and a quieter ride than comparable traditionally powered internal combustion engine (ICE) vehicles, with several key variations in driving range capabilities. This combination will particularly appeal to consumers in the North American market where fuel costs are rising and range anxiety continues to be a concern (whether perceived or real).

As many automakers move into the plug-in electric car market, they will find they are competing with a wide range of competitive options and brand loyalty. Additionally, new research is showing that in the United States consumers are still wary about high upfront costs for vehicles and government incentives will continue to play an important role in the consumer marketplace for many years to come. Pike Research forecasts that the market for plug-in hybrid and battery electric passenger cars and light duty trucks will grow at a compound annual growth rate (CAGR) of 106% between 2010 and 2015, resulting in sales of more than 3.24 million vehicles during that period.
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