It seems that, despite all the noise they make about their hybrid, plug-in and all-electric vehicles, carmakers still expect the internal combustion engine to dominate sales until 2015.
According to a survey conducted last November by audit, tax and advisory company KPMG, which surveyed 200 global automotive executives, including 22 in North America, automakers believe that sales of electric vehicles will not account for more than 15 percent of global sales for at least a dozen more years.
Nearly 25 percent of said execs disclosed that their companies will invest heavily in downsizing and improving gasoline and diesel engines in the next five years, and almost three-quarters said that there’s more potential in decreasing CO2 emissions by improving conventional engines than any electric propulsion system in the next decade.
“When you look at current MPG estimates for new cars, it’s very evident that automakers are continuing to significantly improve engine efficiency”, KPMG’s National Automotive industry leader Gary Silberg told the Detroit News. “What’s clear is that the internal combustion engine is not going anywhere soon.”
The survey also found that automakers are more willing to spend their money in improving their plants: nearly 64 percent of car companies’ executives said that they will increase investments in their factories, up from 55 percent in last year’s survey.
Last, but certainly not least, the executives that took part in the survey picked the VW Group, Hyundai Motor Co. and BMW AG as the most likely to increase their share in global sales in the next five years.
By Andrew Tsaousis
Story References: DetNews
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