Industry Forecast: EVs, Evolving Tech Keys in 2018
Dec. 21, 2017—The auto industry is approaching a potential landmark year in 2018 for electric vehicles and autonomous vehicles, according to a report by The Detroit News.
The overall market share for EVs is expected to surpass 4 percent for the first time in 2018, according to a forecast released this week by industry analyst Edmunds. Tesla, for example, will manufacture 5,000 Model 3 sedans per week by next March.
Edmunds and others in the industry are predicting that overall U.S. auto sales will decline again in 2018, due in large part to ride-hailing services and demographic shifts.
The fight for market share will also get more intense as sales decrease, according to analysts.
Those same industry experts told The Detroit News that 2018 figures to be a pivotal year for testing autonomous vehicles.
Ford and GM have revealed plans for full and partial electrification of their self-driving cars.
“2017 was the proof-of-concept year for autonomy, meaning automakers were trying to demonstrate to the naysayers that this technology is actually tangible and is no longer the stuff of science fiction,” Edmunds analyst Jessica Caldwell told the newspaper. “2018 will be the year that automakers start to prove not only is autonomy possible, but it’s actually going to come to market, and maybe even sooner than consumers expect. We anticipate that real-world testing will accelerate.”