Ford (NYSE: F) and Toyota (NYSE: TM) to Lead EV Market

Brian Hicks

Written By Brian Hicks

Posted November 1, 2012

A new report from Pike Research indicates that plug-in electric vehicle (PEV) sales in the U.S. market are set to increase steadily throughout the present decade. This comes after Japanese and U.S. assembly lines churned out more than 20,000 PEVs in 2011, setting a new record.

Pike found that Ford (NYSE: F) and Toyota (NYSE: TM) will lead the PEV sector for total sales in the U.S. between 2012 and 2020.

From Daily Finance:

“Despite the early introduction of the Leaf, from Nissan, and the significant marketing push behind it, we expect Nissan to trail Toyota, Ford, and General Motors by a significant margin through the end of the decade,” says research director John Gartner. “Although Ford has been relatively slower than some competitors to enter the passenger PEV market, its future plans are ambitious, and it will be the only automaker to surpass 400,000 PEVs sold in the United States through 2020.”

In the U.S., PEV sales should reach around 48,000 units this year. That would put the U.S. in the lead the world for number of PEV units sold, and the lead is expected to continue all the way into 2020 or beyond.

Worldwide, PEV sales ought to exceed 1 million units in 2017, after having spent seven years in the market. This is, remarkably, half as long as hybrid vehicles took to reach the same milestone.

The report is available here and studies the overall market for PHEVs and BEVs, analyzing a variety of market drivers. Categorized and detailed market forecasts are included until 2020.

Pike Research, part of Navigant’s global Energy Practice, analyzes clean tech markets thoroughly.

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