The electric car market is still in its infancy
The death of the electric car market has been exaggerated.
U.S. drivers have soured on all-electric vehicles, according to a report by USA Today.
The paper reports drivers are not buying electric cars because they fear being stranded without a charging station nearby and because drivers are generally happy with the lower priced, fuel-efficient engines available in gasoline powered cars. The article cites a report by Pike Research that scoffs at President Obama’s goal of 1 million plug-ins on the road by 2015. The report says Obama will be lucky to hit the goal by 2018:
"There is little evidence that any … breakthroughs will happen to any significant degree in the next five or six years," Pike Research said in the report. "Those betting on strong early growth curves hoped that battery prices would quickly fall, positive word of mouth would quickly spread or automakers would introduce new models more quickly."
Sales numbers may not reflect much promise—electric cars totaled less than 20,000 of the 12.8 million light vehicle sales in 2011—but the all-electric car is not at the end of its life. It is still in its infancy:
1. The electric car industry has not yet reached critical mass.
2. The problem isn’t the car. The problem is car charging.
3. Three letters: EPA.
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.