J. D. Power and Associates predicts that Europe will be the largest global market for battery-powered electric vehicles but that its volumes would still not come up to what carmakers expect.
According to a recent report by J. D. Power analysts, EV sales in Europe could reach 742,020 units by 2020 – only 3.1% of 23.8 million sales predicted for that year.
Coming in second place is China, with unit sales of 332,775 and a 1.9% market share. J. D. Power predicts further that the US would be third when it comes to unit sales -- 107,998 units, with only 0.6% of the market.
The third largest share is expected to go to Japan at 1.6% but since it is a small market, unit sales would be only 67,057.
When it comes to the global market, EVs are expected to achieve a 1.85% market share in 2020 with unit sales of 1.31 million units in a total global market of 70.9 million.
It should be pointed out that J.D. Power's predicted 2020 global market share for EVs is considerably lower than the 10% or 6 million units anticipated by Renault-Nissan CEO Carlos Ghosn.
Volkswagen AG expects EVs to stand for 3%, or 300,000 units of VW Group's planned 10 million sales by 2018. [via autonews - sub. required]