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Hybrids, EVs Face Challenge from Cheaper Options
Combined sales of hybrid and electric vehicles in the U.S. will dip this year as carmakers develop less expensive ways to improve fuel economy, LMC Automotive says.
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Combined sales of hybrid and electric vehicles in the U.S. will dip this year as carmakers develop less expensive ways to improve fuel economy, LMC Automotive says.
The London-based market research firm expects hybrid/EV sales to dip slightly below 600,000 units in 2014, ending five years of growth. It says only two EVs the Nissan Leaf and Tesla Model S will sell more than 10,000 units this year.
The debut of 12 new hybrid/EV models in the American market in 2014 could help revive demand and push annual sales to 1 million units by the end of 2017, according to the firm. But it also sees "significant" risk to that scenario.
LMC notes that carmakers are stepping up efforts to squeeze more efficiency out of their conventional vehicles by making them lighter, adding automatic engine stop-start systems and making technical improvements in the gasoline engine.
LMC says the U.S. market will see the debut of 65 all-new models between 2014 and 2017. But only 15 will feature any form of advanced electrification.
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