Despite recent studies stating the opposite, auto executives predict that electric vehicles will account for 50 percent of car sales in 2020, the Detroit Free Press reported.
Jason Forcier, the vice president of the Automotive Solutions Group at A123 Systems, a battery manufacturer, made this prediction at a conference Tuesday. While other executives shared this optimism, they did so on a lower scale. For example, Mark Perry, the North American product planning chief for Nissan, said that electric vehicles will likely make up more than 10 percent of sales in the next 10 years.
These bullish views follow reports presented at the the Automotive News Green Car Conference on Tuesday, which said that U.S. consumers are likely to keep buying conventional gasoline-fueled vehicles because American automakers have been able to create models that offer good gas mileage at low costs.
The Center for Automotive Research (CAR) reported that federal fuel requirements will cause car prices to jump in the future, and those costs will be higher than any savings in fuel that the cars offer. CAR expects that this will hurt new car sales, but buyers can always consider a car loan to ease the financing of a more environmentally friendly vehicle.