By the time back-to-school ads for Staples are running in your local newspaper, Tesla will be preparing the launch of its highly anticipated Model X fully battery electric SUV (technically, it's a CUV, or crossover utility vehicle). This full-size model, which will offer performance rivaling that of Porsche's respected Cayenne, will feature unique Falcon Wing doors (the term "gull wing" apparently wasn't disruptive enough) and seating for seven adults---plus ample room for luggage, golf clubs, and antique furniture.
Last week, Georgia eliminated the state's $5,000 electric car (EV) tax credit---the biggest state-based tax credit in the nation---and replaced it with a $200 annual EV tax (more than drivers of gasoline-powered cars pay). The law, which goes into effect July 1, does so amidst the protests of environmentalists and electric car advocates.
Progressive Solutions Ignored
A leading consulting and research firm in Mountain View, California, Frost & Sullivan, has released its prediction for 2015 electric car sales. The group believes that about 480,000 battery electric vehicles (EVs) will be sold worldwide by the end of the year.
The company estimates that 320,000 EVs were sold globally in 2014, meaning that the prediction for 2015 would equal a 50 percent increase in sales. While this is certainly impressive growth and reflects the slow process of mass adoption among consumers, it's important to put these numbers in perspective.
Don't believe us that fuel economy isn't the number one buying factor? Here is the proof.
Monthly Truck Sales
One of the tell-tale signs on consumer behavior is monthly truck sales. Historically truck sales rise throughout the year and due to various market conditions. For example, gasoline prices have been often tied to new truck sales. When gasoline prices are low, consumers buy more trucks than when it is high.