Global PEV sales top 1 million, but US market could lag

While most of the global market can expect robust growth of plug-in electric vehicle (PEV) sales in the near term, the outlook in the United States is less certain based on the potential for federal policy changes. That’s the conclusion of a new report from Navigant Research.

“If US fuel efficiency policies and government subsidies are relaxed or removed, the country will find it difficult to keep pace with other markets,” Navigant said.

Recent developments in the PEV market, including the rollout of long-range battery EVs at sub-$40,000 price points, have positioned the segment for robust growth. Since PEVs were introduced in 2011, sales have experienced annual growth of 40 percent or more.

Global PEV sales surpassed 1 million in 2017, and the market is projected to see annual growth around 38 percent through 2020, the report says.

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