Posts Tagged ‘EV sales rising’

Plug-In Vehicle Sales Surge Past 1M for 1st Time as Demand Jumps in U.S.

Shrinking battery costs, longer range, more model choices bolster sales.

by on Jan.05, 2018

The Chevrolet Bolt is now one of the world's best-selling plug-based vehicles, and GM has more coming.

Motorists around the world are showing signs they’re getting charged up by a new wave of plug-based vehicles, global sales passing 1 million for the first time ever in 2017, and U.S. demand setting a new record during the final month of the year.

Though still making up only a small fraction of worldwide motor vehicles sold last year, demand for plug-in hybrid and pure battery-electric vehicles, or PHEVs and BEVs, has been rising rapidly, according to a new report from Navigant Research. A variety of reasons get credit, including declining prices and the availability of more products, especially longer-range models like the Chevrolet Bolt EV, Tesla Model 3 and second-generation Nissan Leaf. Rising oil prices are also playing a factor.

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“Battery costs have shrunk dramatically in the last five years and promise to shrink further with the commercialization of solid-state batteries on the horizon,” says Scott Shepard, a senior research analyst with Navigant. “In addition, increasing regulatory pressure in Europe and China may well push the PEV (or plug-based vehicle) market to the aggressive end of the forecast range regardless of oil prices.”

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Chevy Bolt Predicted to Hit 30K Sales Mark in 2017

U.S. EV sales soaring toward new record in 2016.

by on Oct.19, 2016

LG Chem VP Kang Chang Beom told his shareholders that Chevy Bolt sales would exceed 30,000 units in 2017. The supplier produces the batteries for the Bolt.

Just as Tesla revealed that the initial deliveries of its first mass-market EV, the Model 3, will be slow, one of the car’s competitors, the Chevrolet Bolt, appears to be ready to sprint out of the gate in 2017 with 30,000 deliveries.

The Bolt prediction comes from LG Chem Vice President Kang Chang Beom, whose company makes the batteries for Chevy’s new EV. His forecast that it would be raining Bolt EVs came during a conference call with the company’s shareholders, according to Bloomberg.

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Sales of the new five-door plug-in EV begin later this year with production ramping up in early 2017 at General Motors’ plant in Orion, Michigan. However, Tesla’s first Model 3s won’t hit the streets until late next year … and even that’s considered a big assumption given the company’s past adherence to deadlines. (more…)

Plug-Based Car Sales Set for Rapid Growth, Says New Study

Expansion coming despite low gas prices.

by on Jun.30, 2016

The 2016 Chevy Volt improved its battery-only range from 38 miles to 53 miles. Plug-based car sales are expected to jump this year.

It’s been tough times for makers of battery-based vehicles. With cheap gas, demand for hybrids, plug-in hybrids and pure battery-electric vehicles took a sharp tumble in 2015, the first significant decline since the beginning of the decade.

But with new, longer-range and more affordable products set to come to market, demand is looking to rebound, even if gas prices don’t climb, according to a new study by Navigant Research. Sales of plug-based models should grow 62% year-over-year, to about 200,000 sales in 2016, said the Navigant study.

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A key to that is the arrival of products like the Chevrolet Bolt, said Scott Shepard, a senior research analyst. “The long-range BEV (or battery-electric vehicle) is a marked achievement in the industry.” (more…)