Electric and hybrid car sales could be slow says new study

J.D. Power and Associates just released a new study about hybrid and electric car sales, and it suggests that those models won’t sell well for decades to come. The sales for hybrid and electric cars currently are a small portion of the market, which is where the report begins. Just over 7 percent of all cars sold worldwide could be either electric or hybrid by 2020, as outlined by the study.

A couple of more electric cars sold every single day

One of the foremost authorities in the car industry, J.D. Power and Associates, just lately released a record on projected electric car sales for the next decade. The record with current estimated sales of hybrid cars and electric cars, as outlined by USA Today, as a jumping off point. Currently, hybrid and electric cars are estimated to make up only about 2.2 percent of global car sales. Using the rate at which those models sell, the around the world sales will only increase to 7.3 percent of combined sales of electric and hybrid car models. The study also points out that too many potential car buyers are concerned about the drawbacks in hybrid and electric cars, like range and also cost difference.

A reasons needs to be given

In order for sales of electric cars and hybrid cars to get a huge boost, there are some things that will have to happen first, according to CNN. Worldwide fuel prices would have to rise. There are also concerns that electric cars lack sufficient range to replace gasoline engines. The price for a Toyota Prius rather than a Toyota Corolla is considerably different. This is another concern. Having to charge the car up is another negative. Also, car buyers don't like seeing no track record.

Size is very important with dollars paid

It costs an extra $5,000 for a liability with less power. You'll have to replace the battery at some point. Numerous think they’re paying too much for the car. It isn't worth it to them to conserve on fuel consumption and gas like that.

Articles cited

USA Today

content.usatoday.com/communities/driveon/post/2010/10/study-electric-car-sales-will-be-weak-through-2020/1

CNN

money.cnn.com/2010/10/27/autos/jdpa_hybrid_electric_study/index.htm