Electric and hybrid car sales can be slow says new study

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 sales for hybrid and electric cars currently are a small portion of the market, which is where the record begins. It is estimated that in 10 years, the sales will not grow considerably. The study projects that just over 7 percent of all sales around the world can be hybrid or electric by 2020.

Growth in electric car sales is really slow

The next decade of electric car sales was reported on. The J.D. Power and Associates did this report. USA Today reports that electric cars and hybrid cars are shown within the report to just be beginning out. About 2.2 percent of global car sales is made up for with hybrid and electric cars. Using the rate at which those models sell, the worldwide sales will only increase to 7.3 percent of combined sales of electric and hybrid car models. Now it appears like people are more interested in what the drawbacks are of hybrid and electric cars. This stops them from buying.

Consumers getting a reason to do it

In order for sales of electric cars and hybrid cars to get a huge boost, there are some things that will have to happen first, according to CNN. Worldwide fuel prices would need to rise. There are also concerns that electric cars lack enough range to replace gasoline engines. The record also highlights the increased cost of, for example, a Toyota Prius over a Toyota Corolla is a fantastic concern. Also, car buyers don't like the lack of a track record and charging time.

What you pay correlates with the size

An extra $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. Consumers are also concerned the decrease in fuel consumption and money saved on gas are not enough to cover the additional sticker price.

Citations

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