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Initial estimations for electric vehicle sales may have been a tad too optimistic, as a new report is coming out that EV sales may total half of what was originally expected by 2025.
It’s probably too early to tell given human nature – who would have thought the Prius would be a hard to get vehicle – but Morgan Stanley now expects electric vehicles to account for 4.5-percent of total auto sales in 2025 instead of the initial 8.5-percent figure.
Automakers are still optimistic however, Renault-Nissan still expects electric vehicle sales to account for 10-percent of the global market by 2020.
The skepticism towards the originally inflated figures comes from the fact that without government assistance, electric vehicles will be too expensive to meet those forecasts. Electric vehicle sales are currently heavily subsidized by various governments but that’s not expected to last.
Analysts believe that sales will increase once the battery technology on electric vehicles becomes less expensive, but that’s not expected until 2025. We’re a little more optimistic though, given how technology has improved exponentially over the years.
GALLERY: Nissan Leaf
[Source: Left Lane News]