Electric vehicle (EV) sales will be limited by their price tags in 2012, according to Pike Research. Recent price reductions for batteries won’t show up in vehicle costs until 2013 or 2014.
December 19, 2011 – BUSINESS WIRE — Electric vehicle (EV) sales will be limited by their price tags in 2012, according to Pike Research’s latest white paper on the sector. Recent price reductions for batteries won’t show up in vehicle costs until 2013 or 2014.
Nissan raised the price of the Leaf for 2012. The Chevrolet Volt will sell for $1,000 less next year, but the company has shaved off several previously-standard features into the options column.
According to data from Pike Research?s annual Electric Vehicle Consumer Survey, the optimal price for a plug-in electric vehicle (PEV) to engage consumers is $23,750, but a quick pricing check reveals distance between want and reality: 2012 Toyota Prius PHEV ($32,000), the Honda Fit BEV ($36,625), and the Ford Focus EV ($39,995) (before federal incentives). These relatively high selling prices will constrain the market for PEVs in 2012. Nevertheless, the global market for plug-in electric vehicles will grow to more than a quarter million vehicles in 2012.
Recent cost reductions in batteries for electric vehicles won’t bring down the EV car lot prices in 2012, said research director John Gartner. “The batteries in these vehicles were ordered before 2012, so any flexibility in reducing vehicle pricing will not occur until 2013 or 2014 at the earliest.”
Pike Research?s industry predictions for 2012 include the following:
- Car-sharing services will expand the market for EVs and hybrids.
- Battery production will outstrip vehicle production.
- The Asia-Pacific region will become the early leader in vehicle-to-grid (V2G) systems.
- Third-party EV charging companies will dominate public charging sales.
- Employers will begin to purchase EV chargers in large numbers.
- EVs will begin to function as home appliances.
The white paper includes 10 predictions about the EV market in 2012. Conclusions and predictions in this paper are drawn from the firm?s ongoing Smart Transportation research coverage, with forecasts included for key market sectors. Pike Research is a market research and consulting firm that provides in-depth analysis of global clean technology markets. For more information, visit www.pikeresearch.com.
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