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Hybrid and Electric Cars - US - February 2016

In the last few years, hybrid and electric cars were positioned as the vehicles of the future, but recent changes in the new-car market and the overall industry have slowed the growth of these segments. Falling fuel prices and a rekindled consumer love for SUVs are among the barriers to growth in these segments. So, too, are technical challenges, such as insufficient support infrastructure and the lack of increased ranges for electric vehicles. This report covers the challenges this market faces, along with consumers who are likely to consider hybrid and electric cars as well as their attitudes toward such cars.

For the purposes of this report, Mintel defines the hybrid and electric vehicle market as including passenger vehicles (cars and light trucks), that are based on the following technologies:

  • Hybrid electric vehicle (HEV)
  • Plug-in hybrid electric vehicle (PHEV)
  • Electric vehicle (EV)

The following alternative fuel technologies are discussed in the report but are not considered part of the hybrid and electric market:

  • Diesel
  • Compressed natural gas (CNG)
  • Fuel cell vehicle (FCV)

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Table of contents

  1. Overview

    • What you need to know
      • Definition
      • Executive Summary

        • The issues
          • Falling fuel prices affect hybrid and electric car market
            • Figure 1: Total US sales and fan chart forecast of hybrid and plug-in vehicles, at current prices, 2010-20
          • Electric car range and infrastructure not yet up to snuff
            • The opportunities
              • Extended-range electrics could provide a bridge
                • Supercharging is on the way
                  • Millennial men and Boomer women potential key segments
                    • Figure 2: Purchase consideration, by gender and age, December 2015
                  • What it means
                  • The Market – What You Need to Know

                    • Falling fuel prices hurt hybrids, electrics
                      • Crossover craze keeps consumers away from hybrids
                        • Infrastructure not yet up to snuff for electric car charging
                        • Market Size and Forecast

                          • Historic and projected sales performance
                            • Figure 3: Total US sales and fan chart forecast of hybrid and plug-in vehicles, at current prices, 2010-20
                            • Figure 4: US unit sales and forecast of hybrid and plug-in vehicles, 2010-20
                        • Market Breakdown

                          • Hybrids struggle for sales
                            • Figure 5: Sales of hybrid and electric cars, by hybrids, 2015-20
                            • Figure 6: Total U.S. unit sales and forecast of hybrid and plug-in vehicles, by segment, at current prices, 2010-15
                            • Figure 7: Total U.S. unit sales and forecast of hybrid and plug-in vehicles, by segment, at current prices, 2010-15
                          • Electric car sales should improve
                            • Figure 8: Sales of hybrid and electric cars, by plug-in vehicles, 2015-20
                        • Market Perspective

                          • New-car growth could boost hybrids, electrics
                          • Market Factors

                            • Falling fuel prices can hurt hybrids, electrics
                              • Figure 9: Weekly U.S. all grades all formulations retail gasoline prices (dollars per gallon), 2015-16
                            • Crossovers, SUVs are catering to American tastes
                              • Infrastructure needs to catch up
                              • Key Players – What You Need to Know

                                • Toyota Prius looms large
                                  • Chevy Volt could lead a charge of extended-range electrics
                                    • Infrastructure and technology available still a challenge
                                      • Fast charge is the upcoming technology in the market
                                      • What’s Working?

                                        • Toyota Prius looms large
                                          • Figure 10: Toyota Prius online ad, 2015
                                          • Figure 11: Hybrid and electric car model familiarity, December 2015
                                        • Chevy Volt could portend a new way to go electric
                                          • Tesla trying to change the game
                                          • What’s Struggling?

                                            • Infrastructure needs to be built out
                                              • Electric car range is still limited
                                                • BMW and Lexus not widely known for their hybrid and electric models
                                                  • Figure 12: Hybrid and electric car model familiarity, December 2015
                                              • What’s Next?

                                                • Fast charging might supercharge the market
                                                • The Consumer – What You Need to Know

                                                  • Consumers are interested in Hybrid and Electric cars
                                                    • Most hybrid and electric car research is performed online
                                                      • Consumers think hybrids and electrics are good for the environment
                                                      • Consumer Interest in Hybrids and Electrics

                                                        • Today’s consumer will shop hybrid and electric cars
                                                            • Figure 13: Purchase consideration for hybrid and electric cars, December 2015
                                                          • Millennials express interest in Hybrids and Electrics
                                                            • Figure 14: Purchase consideration for hybrid and electric cars, by age, December 2015
                                                          • Boomer Women are interested in hybrid or electric cars
                                                            • Figure 15: Purchase consideration for hybrid and electric cars, by age and gender, December 2015
                                                          • Blacks show more future interest in hybrids/electrics
                                                            • Figure 16: Purchase consideration for hybrid and electric cars, by Hispanic origin and race, December 2015
                                                        • Research of Hybrid and Electric Cars

                                                          • Internet drives hybrid and electric car research
                                                            • Figure 17: Hybrid and electric car research, December 2015
                                                            • Figure 18: Hybrid and electric car research, December 2015
                                                          • Men more likely to read news and research online
                                                            • Household income influences the medium consumers use for research
                                                              • Figure 19: Hybrid and electric car research, by household income, December 2015
                                                          • Perceptions of Hybrid and Electric Cars

                                                            • Consumers perceive hybrids and electrics as expensive and efficient
                                                              • Figure 20: Purchase drivers for hybrid and electric cars, December 2015
                                                            • Men say hybrids and electric cars have good performance
                                                              • Millennials, Gen X most likely to think of hybrids/electrics as efficient
                                                                • Figure 21: Purchase drivers for hybrid and electric cars, December 2015
                                                            • Attitudes towards Hybrid and Electric Cars

                                                              • Consumers say hybrids and electrics are environmentally friendly
                                                                • Figure 22: Attitudes towards hybrid/electric vehicles, December 2015
                                                              • Challenges for embracing hybrid and electric cars
                                                                • Figure 23: Attitudes towards hybrid/electric vehicles, December 2015
                                                              • Women do believe hybrids and electrics are worth the investment
                                                                • Figure 24: Attitudes towards hybrid/electric vehicles, by gender and age, December 2015
                                                              • Consumers associate hybrids to fuel-efficient
                                                                • Figure 25: Perceptions of hybrid and electric vehicles, December 2015
                                                            • Appendix – Data Sources and Abbreviations

                                                              • Data sources
                                                                • Sales data
                                                                  • Fan chart forecast
                                                                    • Consumer survey data
                                                                      • Direct marketing creative
                                                                        • Abbreviations and terms
                                                                          • Abbreviations
                                                                            • Terms
                                                                            • Appendix – The Consumers

                                                                              • Correspondence analysis
                                                                                • Methodology
                                                                                  • Figure 26: Car type attributes, December 2015
                                                                                • Cluster analysis
                                                                                  • Methodology
                                                                                      • Figure 27: Hybrid and electric cars clusters, December 2015

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                                                                                  Hybrid and Electric Cars - US - February 2016

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