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Electric vehicle prices must fall for sales to take off -study

Nov 8 (Reuters) – U.S. sales of plug-in electric and hybrid vehicles are rising, but they won’t gain real traction until manufacturers lower prices and demonstrate clear economic benefits, market researcher J.D. Power and Associates said in a study released on Thursday.

Sales of plug-in vehicles, such as General Motors Co’s Chevrolet Volt and Nissan Motor Co’s Leaf, rose to 37,361 through October, but that represents only 0.3 percent of total industry sales.

One reason these “green” cars have not lured more consumers is the hefty price premium — an average $10,000 for pure electrics and $16,000 for plug-in hybrids, Power said in its inaugural Electric Vehicle Ownership Experience Study.

The standard 2013 Prius hybrid vehicle from Japan’s Toyota Motor Corp, for example, has a base price of $24,995, while the plug-in version lists for $32,795.


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