Automotive Market Research Reports & Industry Analysis
Electric cars, also known as electric vehicles (EVs) are the most fuel efficient using conventional internal combustion engine (ICE) automobiles such as zero air pollution, reduced emissions, and significantly lower energy costs (on a fuel to electricity basis).
Electric cars are more expensive than traditional automotive vehicles; this primarily due to the added cost of a highcapacity battery. Hybrid electric vehicles (HEV) combine the traditional ICE with an electric propulsion system, and this electric powertrain gives HEVs improved fuel economy over conventional vehicles. Other green vehicles, using alternative fuels like ethanol (flex fuel cars) and compressed natural gas (CNG), have gained a broader appeal with commercial and consumer automotive markets.
In 2009, China became the largest national automotive manufacturer by production volume with the highest market as well surpassing the United States; Japan is recognized as the thirdlargest. The automotive industries include car or vehicle manufacturers, component and automotive part manufacturers, resellers, and aftermarket services and parts. The current global automotive markets and industries are characterized by slowly diversifying demand region, with growing demand from highlypopulated developing countries.