Joint Electrification Forecast
When will EVs reach parity with internal combustion engines (ICEs)?
This year, the annual EV market trend and forecast report reveals increasing momentum in EV share of vehicles on the road (parc) as the latest market conditions and buying habits are incorporated into our statistical models. New this year, the report is bigger and broader than ever with the addition of an expanded feature focused on the impact of EVs on service providers.Go To Publication
In this study, readers will find:
BEV sales are projected to be account for 9% of total U.S. light vehicles sales in 2023, then grow to 35% by 2030
BEVs are expected to account for ~10% of the U.S. car parc by 2030, then ~47% by 2045
An average service shop with 2-3 bays is expected to need to invest $80K-$270K to compete in the EV services market
All employees of Auto Care Association member companies are provided with a digital copy of the 2023 Joint E-commerce Trends and Outlook Forecast at no cost as a benefit of their membership.