“This was supposed to be the year that electric vehicles begin to take off, but instead, global EV sales are projected to drop by 43% according to the consultancy Wood Mackenzie.”
Their predictions?
Battery electric operated cars and plug-in hybrid vehicles sales will plummet from 2.2 million globally to 1.3 million in 2020.
The speed bumps in sales are due to a variety of factors including record low fuel prices, the COVID-19 virus that has left many consumers sheltering-at-home (and getting two months to the gallon on their existing cars) instead of buying new (and very expensive cars) and a wait-and-see attitude about how deep and long the recession will last.