Tesla says more than 1 million people will be buying its electric cars annually by 2020, many of them the Model 3 arriving on July 28. Given today’s electric vehicle (EV) market, that destination is still a long way off.
Though it gets talked up a lot, the EV market has yet to launch. Sales of electric cars represent just 1% of the record 17.55 million cars sold last year in the US. GM’s electric flagship, the Chevy Bolt, hasn’t seen spectacular sales despite sunny reviews (GM announced it was pausing factory production this summer to help clear inventory off its lots). Other models aren’t exactly driving themselves off the lot either.