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It’s Been An Electric Los Angeles Auto Show

Automakers have used the LA auto show as an opportunity to showcase their much improved hybrids and electric cars. Still, only 3.3% of the vehicles sold in the U.S. are electric-hybrids and the share of the plug-in hybrids or pure electrics is even lower. [1] So there is a significant opportunity up for grabs for the automakers ready to bet on these cars becoming more mainstream within the American auto market. Higher initial cost combined with inconveniences such as charging the battery or low range have so far prevented the electric cars from gaining traction in the U.S. auto market.

It’s Getting Electric Out There

General Motors (NYSE:GM) unveiled the new 130 horse-powered 2014 Chevrolet Spark EV, which can go from zero to 60 in less than 8 seconds, much quicker than its gasoline powered Spark. GM didn’t close how many miles the car will run on a single charge but the company says it will be one of the highest in its class. The lowest priced model will cost less than $25,000 including the Federal assistance. That’s much lower than the electric Nissan Leaf which starts at $27,700 including the tax credit. Overall, the company plans to sell 500,000 electric cars annually by 2017. For 2012, the total sales of GM’s electric vehicles are expected to touch 50,000. [2]

Ford Motors (NYSE:F) will showcase its new plug-in called C-Max Energi as well. The car has an equivalent mileage of 100 mpg; 5 more than Prius’. Moreover, the C-Max Energi is larger and has a 50-horsepower advantage over the Prius. According to Ford, the vehicle can travel 21 miles on electricity before the gasoline engine kicks in. [3] Ford’s traditional hybrid C-Max, launched in 2012 itself, has got positive reviews and even outsold the Prius by 400 units in October. Similarly, Fiat has also introduced the new 500e. The all electric car will travel 80 miles when fully charged. The 500e will start selling from the second quarter of 2013.


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