Marketing : Market for Electric Cars

The growing pressure on the fossil fuels and the accompanying stringent pollution regulations that accompany use of oil related fuels has made it necessary for researchers to seek for alternative fuel sources for the ever-growing motor vehicle industry. This led to development of eco-friendly electric car.

There is a great potential and growing market for electronic cars in the world. Currently France is the leading country in the use of electronic cars, whereas US has displayed a growing potential in its electric cars market and is set to be the largest user of electronic cars. There are many advantages of an electric car, most notably its eco-friendly nature, efficiency since it uses electric energy, and cheaper to maintain compared to gas cars, (Bearce, S., 2010). It is projected that as fuel costs continue to remain high, the popularity of electric cars will continue to grow. It is projected that the numbers will hit 3.8 million cars by 2020. About 1 million vehicles are expected to hit UK roads by 2020. By 2012, there were well over 3021 claims made by people in UK requesting for plug-in for the electric cars.

Read also Driverless Versus Traditionally Driven Cars – Comparison Essay

According to committee on climate change in UK, they expect a growth in electric cars and the hybrid electric vehicles. The targets are 1.2 million electric vehicles and further 350000 hybrid electric vehicles making over 1.5 million electric cars in the country by 2020. In Japan the projected forecasts is around 1 million electric cars by the year 2022.

In France, there is national and local environmental policies that serve to promote the use of electric cars. The country similarly supplies electric locally manufactured vehicles to the local consumers, thus making France the largest consumer of electric vehicles in Europe. There are policies in France that encourage use of environment friendly and sustainable vehicles, similarly, the local authorities have introduced the car sharing system which has promoted use of electric cars. France has consolidated its position in Europe as the leading user of electric cars, (MacKay, J., 2012). By the end of 2013, the country had 3.1% of total traffic in the country arising from electric cars. The electric vehicles (passenger and light commercial) increased in growth in 2012, by 50% in France, while the sale of hybrid electric vehicles increased by 60% under the same period. All these developments point a great potential for electric cars in French market.

Although France registered a 50%, increase, from 5663 electric cars in 2012 to 8779 in 2013, there is a remarkable use of electric cars across Europe. In Germany, there were 3000 electric car sales recorded in the same period, whereas Norway recorded a remarkable 2500. All these trends reveals a slow but a consistent growth in the use of electric cars in Europe at large. With these statistical records from France, UK, Norway and Germany, it shows that the leading developed countries are keen to embrace these eco-friendly vehicles. New research studies in the US market have revealed that even the interest is growing from the heavy commercial sector that is ready to adopt the new technology.

In Africa, the enthusiasm is high; as it can be revealed by the South African market, whose local manufactures manufactured its first electric car, while leading German manufacturer Volkswagen planned to introduce its first electric car in the country by the end of 2014. Similarly, Nissan started selling its electric leaf cars in South Africa in 2013. Makerere University in Uganda under the funding of the country’s president produced its first car. All these enthusiasm in Africa point a huge market for potential in the continent.

Europe showed growing consumption of electric vehicles ahead of Japan and US, recording 15503 vehicles in 2013 and 18939 in 2014, while Japan had 6000 and US leading at 30, 000 vehicles.

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