September 10, 2013
Although sales of plug-in electric vehicles (PEVs) to date have not met the expectations of automakers and government officials, the market is expanding rapidly in North America as the vehicles become more widely available. Overall, sales of PEVs in the United States are expected to grow at a compound annual growth rate of 18.6 percent between 2013 and 2022—significantly higher than the growth expected for the overall light duty vehicle market during the same period. According to a new report from Navigant Research, the states of California, New York, Washington, and Florida will lead the United States in annual sales of PEVs through 2022.
“The market for plug-in electric vehicles is beginning to mature now that the most popular models, the Chevy Volt and Nissan Leaf, are available in all North American markets, and Ford, Mercedes Benz, Toyota, Mitsubishi, Honda, Fiat, and Tesla are all ramping up production of competitive vehicles,” says David Alexander, senior research analyst with Navigant Research. “BMW and Volkswagen will soon add to the choices, and greater availability of charging infrastructure is supporting this growth. The majority of PEV sales will remain close to major cities on the east and west coasts.”
By 2022, according to the report, the highest concentration of annual PEV sales (in terms of percentage of overall vehicle sales in the state) is expected to be in Hawaii, followed by California and Oregon. Los Angeles, San Francisco, and New York City are anticipated to have the largest sales of PEVs, among cities, over the forecast period. In Canada, the provinces of Ontario, Quebec, and British Columbia (which account for 75 percent of the Canadian population) will account for 97 percent of Canadian PEV sales by 2022.
The report, “Electric Vehicle Geographic Forecasts”, provides data and forecasts for the PEV market for U.S. states, metropolitan statistical areas, and utility service territories, and for Canadian provinces and cities. The study provides sales forecasts from 2013 to 2022 at each geographic level and analysis of major trends in the forecasts. Percentage penetration and cumulative sales data are also provided. An Executive Summary of the report is available for free download on the Navigant Research website.
Contact: Richard Martin
* The information contained in this press release concerning the report, “Electric Vehicle Geographic Forecasts,” is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.