Hybrid And Electric Vehicle Industry Analysis

713 Words 3 Pages
In this section, information will be provided that show that there has been development and evolution in the hybrid and electric vehicle industry. Data will be offered that illustrates that there has been change in the HEV industry, investment, development, and most importantly in production and output in the last several years. At the start of the Great Recession of 2007-2009, cost per oil barrel began to skyrocket. As a result, governments began investing heavily and subsidizing greatly alternative fuel programs. The federal government began investing in clean renewable energies. Diversifying fuel sources means greater energy security and less green house has (GHG) emissions. The United States Department of Energy revealed that it only …show more content…
Along with hybrid and electric vehicle development, the infrastructure to provide energy for these types of vehicles are also developing, with an estimated 8,000 charging stations in the U.S. alone. The trend towards HEV shows, as more than 4,000 of those charging stations were installed in 2012 alone (National Conference of State Legislatures). As of 2015, 37 states and the District of Columbia have regulations regarding plug-in and hybrid electric vehicles. 20 states have incentives, such as tax credits and rebates, to increase the sales of hybrid and electric vehicles. Interstate programs are being created to incentivize consumers to buy more hybrid and electric vehicles. An example is an agreement between the state governments of eight states to sell more than 3 million low-emission …show more content…
As gas prices once again settle to pre-2008 standards, sales of hybrid and electric vehicles have fallen in 2015. The Energy Information Agency shows that gas prices were $2.80 in early 2015, that’s almost a dollar decrease from 2014 (Detroit News Washington Bureau, 2015). This means more and more consumers are stepping back into the silhouette of oil-based vehicles. At the same time that gas prices go down, HEV sales go down. General Motors reported that sales of its plug-in hybrid (PHEV) Chevrolet Volt were down 31 percent to only 1,225 units sold (Detroit News Washington Bureau, 2015). That is on top of the 19 percent plunge during 2014. Nissan Motor Company states that sales of its electric Nissan Leaf fell 12 percent in June 2015, and overall sales dropped sharply 23 percent, to only 9,816 units being sold in 2015 (Detroit News Washington Bureau, 2015). Ford Motor Company reported that June 2015 saw 29 percent decrease in sales of its hybrid models and a 6 percent decrease of its electric Ford Focus (Detroit News Washington Bureau, 2015). Honda Motor Company declared that its hybrid vehicles as well as their plug-in vehicles fell 21 percent in 2015. Lastly Toyota reported a 69 percent decrease in sales of its plug-in hybrid Prius (Detroit News Washington

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