J.D. Power & Associates: Electric cars are currently more hope than reality

2011 Nissan LEAF

Though there is much hype around the electric car evolution, J.D. Power & Associates says that we shouldn”t count gasoline down and out just yet. A new report by Power says that by 2020, the vast majority of cars sold around the world will run on gasoline, not electricity. The report, entitled “Drive Green 2020: More Hope Than Reality.” predicts that just 7.3% of passenger vehicles sold around the world in ten years will be hybrids or plug-ins.

Though percentages for the U.S. are expected to be higher – around 14% – the better piece of that market will belong to non-plug-in hybrids like the Prius and Ford Fusion Hybrid. The report also predicts that a mere 1% to 2% of new car sales in 2020 will be in the form of full-electric vehicles or plug-in hybrids.

The state of things being what they are, most consumers are concerned about driving range, dependability, and design. Interest also wanes in green cars when the price is considered. Without a major spike in petroleum prices, government incentive to buy electric, or major cost reducing technological breakthroughs, the report says buyers are unlikely to embrace plug-ins and full electrics.

– By: Stephen Calogera

Source: CNNMoney