Europe could become the largest global market for electric vehicles

Article by Christian A., on October 29, 2010

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]

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