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US: Pike Pulse report forecasts 1.75m EVs/year by 2019

The clean tech report publisher Pike Research has issued a new 52-page report in its Pike Pulse series Plug-In Electric Vehicles – Assessment of Strategy and Execution for 16 Leading Electric Vehicle Brands. Pike says the market for what it calls ‘plug-in electric vehicles’ (PEVs), inclusive of, in conventional parlance, EVs, PHEVs and FCEVs, began in earnest in 2010 … Continued

The clean tech report publisher Pike Research has issued a new 52-page report in its Pike Pulse series Plug-In Electric Vehicles – Assessment of Strategy and Execution for 16 Leading Electric Vehicle Brands.

Pike says the market for what it calls ‘plug-in electric vehicles’ (PEVs), inclusive of, in conventional parlance, EVs, PHEVs and FCEVs, began in earnest in 2010 with the Nissan Leaf and Chevrolet Volt battling for market leadership, while the Tesla Roadster targeted the high end of the performance market. Since that time, several manufacturers have launched new models, and Pike thinks competition in the PEV market is likely to intensify in the 2013 model year. However, it admits that the sector remains a niche in the overall automotive industry, and warns that manufacturers must choose their strategies for bringing vehicles to market carefully. It expects the worldwide market for PEVs to grow from 137,950 units in 2012 to 1.75 million in 2019.

The 16 manufacturers covered in this report have launched or will launch PEV models within the year, and include mainstream manufacturers as well as the start-up manufacturers Fisker Automotive and Tesla Motors. Chevrolet is, in Pike’s view, the current leader in the PEV market, thanks to its high ratings in both strategy and execution with the Volt PHEV, closely followed by Renault. Toyota and Nissan are considered very close contenders for leadership, though both have either product portfolio or pricing issues that have limited their scoring in Pike’s evaluation. Notably, Toyota and Nissan have adopted markedly different product strategies, with the former doubting the viability of pure EVs and the latter majoring on them rather than on hybrids. Ford is described as the sleeping giant of the PEV market, with “a strong strategy but unproven products that have yet to launch.”

Pike Research's EV OEMs strategy-execution matrix

This Pike Research report evaluates the leading plug-in electric vehicle manufacturers on 12 criteria for strategy and execution, including vision, go-to-market strategy, partners, product strategy and roadmap, geographic reach, market share, sales and marketing, product performance, product quality and reliability, pricing, product portfolio, and staying power. Using its proprietary Pike Pulse methodology, Pike profiles and rates vendors, and offers an assessment of these companies’ relative strengths and weaknesses.

The top 10 PEV vendors according to Pike Research:

1. Chevrolet
2. Renault
3. Ford
4. Nissan
5. Toyota
6. Tesla
7. BMW
8. Smart
9. Mitsubishi
10. Honda

 

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