The sales of microelectric vehicles is estimated to reach 118,000 units by 2017 in North America,according a new report.
The rise in sales will led by factors including emission-based taxation,parking charge exemptions,and mass-production of electric vehicles(EV),according to a report by Frost&Sullivan.
Frost&Sullivan's Strategic Overview of the North American Microelectric Vehicles Market,revealed that the compound annual growth rate(CAGR)of 39.30%is expected to be achieved between 2010 and 2017.
The study also reported that the number of variants of microelectric vehicles in North America is expected to increase to 150,including the unveiling of 34 new base models.
A huge progress is expected to be achieved for medium-speed vehicles(MSVs)and city electric vehicles(CEVs),which will mainly be due to the infrastructure development,and through private consumer sales.
Consumer preference for features,such as eco-friendliness and reduced vehicle ownership costs,has driven the demand for small urban vehicles powered by alternate fuels.
This will also be due to the changing mobility trends by consumers due to the EV's features including eco-friendliness and reduced vehicle ownership costs.
