Study: Electric-cars won’t make a big impact until prices fall

Sales of plug-in hybrid, electric cars and hybrid vehicles in the United States are rising but according to a new study by J.D. Power and Associates, they won’t gain real traction until automakers lower prices and show some real economic benefits of purchasing such vehicles.

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Read our review on the Chevrolet Volt.

While sales of electric cars like Chevy’s Volt and Nissan’s Leaf rose to 37,361 through October, the market only represents only 0.3 percent of total industry sales.

For example, the base price of a Toyota Prius comes in at $24,995 but the plug-in version starts at $32,795. The Chevrolet Volt starts at $39,995.

“There is still a disconnect between the reality of the cost of an EV and the cost savings that consumers want to achieve,” said Neal Oddes, senior director of Power’s green practice.

Nonetheless, a chief concern is still driving range and the availability of charging stations.

– By: Omar Rana

Source: AutoNews