Demand for electric vehicles remains low in the U.S. market, but industry execut...
NEW YORK - Demand for electric vehicles remains low in the U.S. market, but industry executives at the New York auto show this week said they are pushing ahead with billions of dollars in investments even while preaching patience.
Last year, only about 2 percent of U.S. auto sales were comprised of full electric or plug-electric hybrid models, with Tesla Inc accounting for more than a third of those sales. The United States ranks seventh in EV sales as a percentage of overall sales, according to the International Energy Agency.
In New York, industry executives said they face hurdles to selling EVs - persistently low fuel prices, lack of consumer education, lower residual values, higher upfront costs because of battery packs and consumer concerns about the availability of charging infrastructure. Daimler AG showed a new Mercedes-Benz SUV called the EQC Edition 1886 that will go on sale next year “and then we have a whole lot of other electrics coming over the next couple of years,” said Dietmar Exler, who heads Mercedes-Benz USA.
Germany’s Volkswagen AG and its Audi unit are introducing a half-dozen new electric vehicles in the coming two years and have aggressive volume targets, aiming to have 20 to 30 percent of its sales as EVs by 2025.
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