Electric cars constitute less than 0.1 percent of the vehicle market today, but market and regulatory forces all but ensure electric vehicles will be the future of the auto industry. According to the 2016 Global Electric Vehicle Outlook from the International Energy Agency, the global electric car stock has grown rapidly since 2010, from about 2,000 cars in 2005 to nearly 1.3 million in 2015. The boom in the electric car industry is usually attributed to three factors:
Regulatory incentives, infrastructure to support electric vehicles, market size, and other factors contribute to a varied adoption rate worldwide, creating pockets of electric-friendly communities and powerful incentives for auto manufacturers to capture early adopters for their electric vehicle (EV) product lines.
Global electric car market. The United States, China, and Japan lead the world based on electric car stock, making up more than two-thirds of the total global electric car stock. Battery electric cars represent about 60 percent of the global EV market. China dominates this market segment, outstripping Japan in 2014 and the US in 2015. Meanwhile, Norway has the largest domestic market share of battery electric cars, with 0.23 percent of the country’s cars being electric. Norway was also ranked third globally in 2015 based on the number of newly registered battery electric cars.
US electric car market. If China dominates the market for battery vehicle segment, the US is the all-time leader in the hybrid electric car market, a market led by Toyota, Ford, and Lexus. The Toyota Prius is the best selling model despite sales that have declined by more than 30 percent since 2012. The Prius decline is not unique: 28 of the 36 hybrid models in the US hybrid vehicle market have experienced negative sales growth during the last three years. What market share hybrids are losing, plug-in electric vehicles are gaining. US sales of the Tesla Model S grew from roughly 2,000 cars per year in 2012 to nearly 30,000 cars in 2016.
European electric car market. According to the European Alternative Fuels Observatory, total sales of electric cars in Europe increased from 9,000 in 2011 to 209,000 in 2016, a 23-fold increase that was driven more by plug-in hybrid electric vehicles than battery vehicles. In the European Union, the leader by number of battery electric passenger cars sold is France where 22,000 cars were purchased in 2016. As already noted, outside the EU, Norway is the European leader in the electric car market.
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All world countries have an access to the same petroleum prices as on international markets. However, countries' governments decide to impose different taxes according to their economic policies. As a result, the retail prices of gasoline differ considerably across countries. Explore latest global petrol prices on the charts and a map below and see how low gasoline can cost in producing countries in South America and the Middle East in contrast with the other world. In some cases, like in Venezuela, the government even subsidizes gasoline and therefore people over there pay close to nothing to drive their cars.
Edmunds.com's "Consumer Vehicle Purchase Intent by Manufacturer" for a specified period is the percentage of visitors to www.edmunds.com who perform activities on that website that are highly correlated with a purchase of that model within the following three months (as determined by Edmunds' statistical analysis of visitor activities), as a share of visitors who perform similar activities for all models that are in the same manufacturer segment. Edmunds.com believes that "purchase intent" is a metric for measuring a model's share of consumer demand. While actual model sales are affected by several factors other than consumer demand...
Auto dealerships purchase cars direct from manufacturers to resell to final consumers. But, vehicles may spend days, weeks, and even months in some cases in dealers' inventories before being purchased by the ultimate owner. Dealers seek the fastest inventory turnover possible, making 'days to turn'—the number of days a vehicle was in dealer's inventory before being sold—a critical metric for dealers.In 2016, Subarus were the quickest sold automobiles in the world: dealers required an average of 27 days to sell a Subaru, according to Edmunds.Cars produced by Toyota, Honda, and Mercedes-Benz—which are among the world's safest vehicles of...
Steady improvement in the global macroeconomic conditions, rising world GDP, and subsequent rise in consumer demand have contributed positively to the global automotive industry in general and the passenger car market in particular. Global sales of passenger cars are projected to reach 79.7 million units by 2020. The article provides an overview of the major players in the global passenger car market, the geographical distribution of its sales and production, and the recent trends in global passenger car market. The global passenger car market, which is part of the automotive industry, offers small, medium, large, and premium segments. Car...