DUBLIN, March 1, 2016 /PRNewswire/ --
The low emission vehicles market in the US is forecast to grow at a CAGR of 5.13% during the 2014-2019 period, according to a recent report available from Research and Markets. The report states that low emission vehicles in the US are gaining importance due to the implementation of stricter emission standards. This forecast was supported today with news of start-up automaker Elio Motors' market valuation of close to USD 1.3 billion.
Elio Motors is prepping the launch of their debut car, an aerodynamic three-wheeled vehicle boasting low emissions and an impressive fuel efficiency of 84 miles per gallon. Elio Motors is the first equity-crowdfunded business to list shares on public markets, and surpassed the USD 1 billion valuation just days after joining the market. The US automaker says that 50,000 cars have been reserved to date.
The light vehicle market in the US will slow to a growth of 2.0% CAGR in 2016, as noted in a report. Elio Motors plans to start production of their three-wheeled vehicle in 2016, so it remains to be seen if the low costing vehicle will promote additional growth in this market.
The global crowdfunding market is estimated to grow at a CAGR of 26.87% by 2020, as stated in an industry report. However, this forecast could be far higher if projects such as Elio Motors prove successful, as it may convince new people to participate in crowdfunding endeavours.
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SOURCE Research and Markets