Electric Vehicle Forecast


The electric vehicle market is growing dramatically based on a variety of factors including:

  • Consumer interest in fuel economy

  • Government incentives to manufacturers, other industry players, and consumers

  • Auto manufacturers eager to establish themselves in a growing market and brand their companies as green

  • Regulations at the state and federal level level that give significant advantage to these products.

The forecast includes the following types of vehicles:

  • Conventional hybrids such as the Toyota Prius

  • Plug-in hybrids such as the Chrysler Pacifica

  • Full battery electrics such as the Nissan Leaf or Tesla Model 3

  • Fuel cell vehicles such as the Toyota Mirai.

This market is the subject of much attention and a variety of reports and analyses are available.  Baum and Associates provides a unique service by building off its experience in automotive forecasting to provide a detailed analysis of the industry on a vehicle-by-vehicle basis from the "bottom-up" and the "top-down."  

This approach allows us to put the vehicles into the context of both consumer demand and the plans of the automakers taking into account the unique goals that manufacturers have in this growing market. This forecast extends through 2023 and is updated on a quarterly basis.  The forecast utilizes the tools and methods of the automotive forecast for the entire North American market and the experience of the principal gained in over thirty years in the automotive industry.