Electric vehicle sales are running out of gas

Electric vehicle sales are running out of gas

Electric car sales are not charging the marketplace. A new study by online automotive research company Edmunds.com suggests the segment may have run out of gas.

Sales of electric drive vehicles are stuck at about 3.6% of all new car sales for 2014, Edmunds senior analyst Jessica Caldwell said.

That’s below the 3.7% market share for 2013, and it’s not likely to grow any before the end of the year.

And that’s during an otherwise robust sales season. Total figures for August were higher than any time in the last decade.

Automakers sold about 1.6 million vehicles in the U.S. in August, an increase of about 3% from August 2013, according to initial industry estimates released Wednesday.

“The whole automobile market has grown,” Caldwell said. “We’re not seeing electric vehicles as part of that growth.”

The numbers are surprising, Caldwell said, to automobile forecasters. Five years ago, analysts thought that electric vehicle sales would continue to expand as more manufacturers put more electric vehicles on the road and as the vehicles’ cost came down.


Commenting Policy

We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse.

You may use HTML in your comments. Feel free to review the full list of allowed HTML here.