According to research conducted by Pike Research, there will be a huge expansion in worldwide sales of plug-in hybrids over the next 6 years. The research indicates that as many as 1.7 million PHEVs will be on roadways worldwide by 2015.
The research suggests that government incentives and tax break programs along with the consumers desire to drive more fuel efficient vehicles will drive sales of PHEVs in the near future. They liken the expansion to what the market has seen with hybrid vehicles over the past few years. Slowly, but surely drivers will begin to convert from standard gasoline vehicles or hybrids to PHEVs models.
The U.S. will lead the way with 610,000 PHEVs on our roadways by 2015 with China in the runner up position at 540,000 vehicles. According to the research, up to 75% of the PHEVs on roads worldwide by 2015 will come from the major automakers of Toyota, Ford, and GM. They also warn that some Chinese companies will make in roads in the market such as Chery and BYD.
Most of the plug-ins on the roads will fit into the compact car class followed by small SUVs. They estimate that 80% of the PHEVs on roads in 2015 will be compact cars, with 10% falling into the small SUV class, and the remaining 10% into the category of other vehicles types.
From gasoline, to hybrid, to plug-in hybrid, and then fully electric, the advanced vehicles technologies are slowly progressing and becoming more and more mainstream every year. With economies of scale prices drop, additional buyers line up, and competition becomes heated driving technological advances. The future looks bright for advanced technology vehicles and one day they may rule our roads.
Source: Business Wire
