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Electrification May Capture 4% of Europe's Car Market by 2020
Sales of hybrids, plug-ins and electric vehicles will reach more than 827,000 units per year in Europe (4% of the total market) by the end of the decade, Pike Research LLC predicts.
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Sales of hybrids, plug-ins and electric vehicles will reach more than 827,000 units per year in Europe (4% of the total market) by the end of the decade, Pike Research LLC predicts.
Volume for such models totaled about 120,000 units in 2012, according to the Boulder, Colo.-based firm.
Pike forecasts that European demand for all-battery EVs will multiply to about 400,000 units per year by 2020 from less than 25,000 units in 2012. Over the same period, sales of plug-in hybrids will surge from roughly 11,000 units to 260,000 units.
The firm expects annual sales of conventional hybrids in Europe to merely double to about 160,000 units by the end of the decade.
The success of highly efficient diesels has damped Europe's demand for only marginally more efficient hybrids, Pike says. It cautions that EV sales will be dictated in large part by price and development of a recharging infrastructure.
Pike predicts that Europe's biggest markets for EVs each with more than 100,000 sales per year will be France, Germany, the Netherlands, Norway, Sweden and the U.K. The firm estimates that plug-in hybrid sales will top 100,000 units per year by 2020 only in Germany, France, Italy and the U.K.
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