The world’s hybrid electric car sales will double within seven years according to a new forecast. Sales will grow from 2% of global light duty vehicles to almost 4% by 2020 according to business advisors Navigant Research.
The prediction sees a much stronger few years in store for hybrid electric vehicles (HEVs) than straight electric ones.
“While HEVs are largely accepted as a part of the automotive market in many regions, plug-in electric vehicles (PEVs) remain a new technology with challenges inherent in new markets,” states the report.
It suggests 3 million plug-in electric (PEV) models will have been sold by 2020, representing 3% of the global light-duty vehicle market. Japan is cast as a hero for the PEV market that year with nearly 900,000 vehicles sold in 2020.