IHS Introduces New PEV Index

The sails of electric vehicles have caught a warm breeze. The accelerating growth of this segment from special tax incentives, stricter regulations, and significant country incentives is under close watchful eye by the IHS Automotive team. And hitting the market just at the right time, IHS has recently introduced the IHS Automotive Plug-in Electric Vehicle (PEV) Index.

The IHS Automotive PEV Index is a quarterly ranking of the top EV/PHEV countries and provides insights into market drivers of market share and quarterly changes in volume. Not surprising to anyone, Norway continues to lead adoption with PEV market share exceeding 30% of new vehicle registrations. One local individual said that amongst the incentives, fuel prices and the economy for PEVs says it all about Norway. The US continues to lead in total volume of PEV registrations, trailed closely by China, and to little surprise given price point and sleek design of the Tesla Model S, it has become the dominant brand in the US.

A notable surprise to me was the rapid growth of 392% in the United Kingdom; but it totally makes sense given the latest grants that discount car and van electric vehicles purchase by up to 35% and other grants for creating the infrastructure and putting charging stations on the street. Late last year I visited Milton Keynes and saw some of this infrastructure being developed and only recently heard that it's going to be a planned site for further testing of autonomous vehicles, too.

Interested in finding out which PEV is the most popular in each country? Download the insight-rich infographic from IHS Automotive or go one step further and check out the eMobility Sample Report on The Netherlands.