Navigant Research Report Shows 2019 Sales of Light Duty Plug-in Electric Vehicles Are Expected to Increase Over 80% from 2017
The declining cost of technologies, in addition to emissions and fuel efficiency, are key drivers to increasing the adoption and awareness of PEVs
BOULDER, Colo.: A new report from Navigant Research examines the impact of fuel efficiency and zero emissions vehicle (ZEV) policies on the light duty plug-in electric vehicle (LD PEV) population diffusion in North America.
2017 was a record-breaking year for LD PEV sales in North America, and market growth is expected to continue. These vehicles are increasingly being considered by consumers as a top choice for their next vehicle purchase, and more states and provinces in North America are implementing purchase incentives and are in talks to adopt zero emissions vehicle (ZEV) policies. Click to tweet: According to a new report from @NavigantRSRCH, in 2019, North American LD PEV sales are on track to increase over 80% from 2017 numbers.
“Many US states with ZEV policies continue to boast the largest PEV populations and highest sales numbers, such as California and New York, but states like Florida and Colorado are coming to the forefront of the PEV game,” says Raquel Soat, research analyst with Navigant Research. “To meet emissions targets and climate-related goals, many groups across North America are pushing state legislators to pass ZEV policies to increase model availability and incentivize higher LD PEV adoption rates.”
According to the report, in addition to the declining cost of PEV technologies, emissions, fuel efficiency, and ZEV policies are key drivers increasing the adoption and awareness of PEVs. Similarly, as new business model opportunities, such as automated vehicles and carsharing programs, continue to emerge, the market share of PEVs is expected to continue to rise.
The report, Market Data: EV Geographic Forecasts – North America, analyzes the impact of fuel efficiency and ZEV policies on LD PEV population diffusion in North America. The study leverages the Navigant Vehicle Adoption Simulation Tool (VAST) to create three forecast scenarios based on potential changes to the Corporate Average Fuel Economy (CAFE) and ZEV regulations announced by the current US administration. Detailed geographic breakdowns of LD PEV sales and populations (in conservative, base, and aggressive scenarios) for the US and Canada are provided by geographic region, including state, province, US core-based statistical area, and Canadian census agglomeration area. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Market Data: EV Geographic Forecasts – North America, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.