Study purports electric and hybrid car sales can be slow

A new study by J.D. Power and Associates says that sales for electric and hybrid cars could be slow for at least a decade. The report uses current sales estimates of hybrid and electric cars, which are a small fraction of the market, to estimate growth for the next decade. Just over 7 percent of all cars sold across the world could be either electric or hybrid by 2020, according to the study.

Study forecasts slow growth in electric car sales

The next decade of electric car sales was reported on. The J.D. Power and Associates did this report. The record with current estimated sales of hybrid cars and electric cars, as outlined by USA Today, as a jumping off point. Currently, hybrid and electric cars are estimated to make up only about 2.2 percent of global car sales. Using the rate at which those models sell, the throughout the world sales will only increase to 7.3 percent of combined sales of electric and hybrid car models. The study also points out that too many potential car buyers are concerned about the drawbacks in hybrid and electric cars, such as range and also cost difference.

Giving a reason to consumers

In order for sales of electric cars and hybrid cars to get a huge boost, you will find some things that will have to happen first, as outlined by CNN. There would need to be a rise in fuel prices. This would have to be worldwide. There are also concerns that electric cars lack sufficient range to replace gasoline engines. There is also a greater cost getting a Toyota Prius rather than a Toyota Corolla. Having to charge the car up is another negative. Also, car buyers don't like seeing no track record.

Size matters concerning cost

An additional $5,000 at the lot is a big deal if that buys less power and greater cost down the line in replacing a car battery. Many think they are paying too much for the car. It isn't worth it to them to save on fuel consumption and gas like that.

Info from

USA Today

content.usatoday.com/communities/driveon/post/2010/10/study-electric-car-sales-will-be-weak-through-2020/1

CNN

money.cnn.com/2010/10/27/autos/jdpa_hybrid_electric_study/index.htm