The internal combustion engine, driven by improvements in fuel efficiency and performance, will continue to dominate vehicle sales while the electric car sales will sputter for more than a decade, according to a new survey by KPMG.
However, automakers are expected to continue to invest in electric technology, the Global Automotive Executive Survey report said.
“The need for new electric propulsion technology is still top of mind for auto executives around the world, given the demand that will be felt in the emerging markets,” said KPMG’s Peter Hatges.
“Automotive companies will continue to invest heavily in electric propulsion and will play a leadership role in the development of these emerging technologies going forward.”
The survey found that electric vehicle cars are not expected to exceed 15 per cent of new car registrations globally by 2025; that auto executives in North America and Western Europe expect even less, projecting that electric vehicles will only account for six to 10 per cent of global annual sales; and nearly two-thirds say that optimizing the internal combustion engine offers greater efficiency and the most potential for carbon emission reduction.
A model stands behind a diesel-electric Audi e-tron Spyder roadster on display at the 2012 Los Angeles Auto Show, on November 16, 2011 in Los Angeles, California.
Photograph by: Frederic J. Brown, AFP/Getty Images