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Consumers See Green Again

Consumers See Green Again Featured

Green vehicle sales are up 21.5 percent in the first half of 2017 compared to the same period in 2016, according to a new analysis from Edmunds.Driving this growth is a diversification of the green model lineup to include bigger vehicles that tap into consumers' love of SUVs, such as the Kia Niro, a hybrid compact crossover SUV. Light trucks now make up 22.9 percent of the green vehicle market, up from 5.2 percent in 2012.Also moving the needle on green vehicle sales this year are plug-ins, which have increased 45 percent in volume year over year. One out of every 100 vehicles sold in 2017 had a plug. It remains to be seen whether electric vehicle sales will be able to stand up on their own after federal tax credits begin expiring. Federal subsidies have provided a much-needed boost for EVs and PHEVs, but as GM, Tesla and Nissan close in on the 200,000-vehicle cap on federal tax credits, and new or extended government incentives are uncertain, the future is murky on whether electric vehicles will be able to attract buyers without a steep financial incentive.
Last modified on Monday, 24 July 2017 20:52