Fledging Electric Car Market In Turmoil [View all]
By Agence France-Presse
Friday, October 5, 2012 18:30 EDT
The fledgling electric car business is in turmoil as predictions about potential sales have proven to be wildly optimistic despite volatile fuel prices and plenty of media hype.
Weak consumer demand is hitting both the big automakers like General Motors and Nissan — which have failed to meet sales targets on the plug-in Volt and all-electric Leaf — and smaller start-up firms trying to carve out a piece of a very small niche.
“Electric vehicles don’t make any more sense today than they did in 1912,” says Sean McAlinden, an analyst with the Center for Automotive Research in Ann Arbor, Michigan.
“They take too long to charge, the range is too short and they cost too much.”