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BMW Expects Short-Term Dip in EV Demand
Cheap fuel will hurt demand for electric vehicles in at least some countries over the short term, Ian Robertson, head of sales and marketing for BMW AG, tells Bloomberg News.
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Cheap fuel will hurt demand for electric vehicles in at least some countries over the short term, Ian Robertson, head of sales and marketing for BMW AG, tells Bloomberg News.
But he insists today's shift in demand toward larger piston-powered vehicles will be short-term and temporary. Robertson reiterates BMW's strategy of adding hybrid, plug-in hybrids and EV options across its model lineup.
Robertson says such vehicles will gain market share regardless of fuel price. The main reason: Legislated emission and fuel economy goals in Europe, Japan and the U.S. all but dictate a significant increase in zero-emission vehicle sales.
Bloomberg notes that U.S. demand for hybrids and EVs totaled 570,500 units last year, down nearly 4% from 2013. The news service says low fuel prices are prompting a resurgence in demand for larger and relatively inexpensive vehicles with conventional powertrains.
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