Hybrid and EV Demand Overestimated

Once believed by many to be just a gimmick created on a computer, electric and hybrid cars are increasingly becoming a part of everyday life. It’s easy however to be mesmerized by all the new concepts taking center-stage at auto shows and the hype created around them, losing sight of the bigger picture. Hybrids and EVs might not replace petrol-burners as soon as we think!

As reported by Bloomberg, citing a survey done by J.D. Power & Associates Illustrates, this could actually be true. According to the survey, combined sales of hybrids and electric vehicles will amount for just 7.3 percent of global car sales in the year 2020. The company believes that the fuel-saving green cars will count for only 5.2 million units sold of the total 70.9 million cars expected to leave dealers’ lots in 2020.

This is in contrast with what Nissan-Renault CEO Carlos Ghosn estimates - that EVs will represent a record 10 percent of the market in that year. Truth is governments all over the world are giving billions in subsides to firms like Nissan or Tesla, with the promise they will deliver such high sales figures.

In the end we have to really ask ourselves whether or not we REALLY need such cars, based on the type of life we live and how committed we are to saving the environment.

“Many consumers say they are concerned about the environment, but when they find out how much a green vehicle is going to cost, their altruistic inclination declines considerably,” senior VP of the company, John Humphrey said.

Consumer interviews done by J.D. Power show that concerns about owning hybrid or EV include their looks and design, reliability, overall power and performance, range and time needed to recharge battery packs. When told that a hybrid might cost them $5,000 more than an equivalent petrol model, the number of people still interested in buying a hybrid dropped by 50 percent.
If you liked the article, please follow us:  Google News icon Google News Youtube Instagram X (Twitter)
About the author: Mihnea Radu
Mihnea Radu profile photo

Mihnea's favorite cars have already been built, the so-called modern classics from the '80s and '90s. He also loves local car culture from all over the world, so don't be surprised to see him getting excited about weird Japanese imports, low-rider VWs out of Germany, replicas from Russia or LS swaps down in Florida.
Full profile


Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories