Business & Finance
Business and Finance
Business and Finance
Wed, March 16, 2011 AutoPacific Conducts Market Research for Green Automotive
DALLAS--([ BUSINESS WIRE ])--Green Automotive Company Corporation (OTC:GACR) announced today that AutoPacific, Inc. ([ www.autopacific.com ]) has recently completed an in-depth U.S. market review and analysis for Green Automotive.
"In addition to the forecasts by Baum & Associates and market research provided to us by AutoPacific, other independent automotive industry analysts predict that by 2015 the global electric vehicle market will reach 2.6 million units"
AutoPacific has been conducting automotive industry specific market research for over 25 years. Serving as an independent automotive industry research firm, it has developed an extremely comprehensive automotive database which provides the company with information ranging from consumer preferences to automotive vehicle comparisons. AutoPacific, recognized as an authority on the future state of the industry, assists its clients in finding the answers they need to stay competitive. AutoPacifica™s long list of clients includes most auto industry OEMs and Tier 1 suppliers.
aIt is advantageous that we gain as much insight into the U.S. market segment related to electric vehicles as we can. Green Automotive needs to know where the industry is today, where ita™s going to be in the future and what consumers of electric vehicles consider important. AutoPacifica™s market research gives Green Auto important consumer information, which is vital to us just like it is for Chevroleta™s Volt, for Nissana™s Leaf, and for Teslaa™s Roadster, as we are each early entrants into this new Electric Vehicle market space. We need to know who our prospective EV car buyers are, and most importantly, what they expect in an Electric Vehicle,a observed Ben Rainwater, Consultant to Green Automotive.
aWe were impressed with the scope and quality of the research, the results of which were presented to Green Autoa™s management by George Peterson, AutoPacifica™s President and his team of industry experts. It is easy to understand why AutoPacific is so highly regarded in the industry. Because of their extensive experience and market expertise, I am confident we will continue to use their services in the future,a stated Steve Wells, VP Product Development.
Recently, President Obama announced a goal to get one million electric vehicles on the road by 2015. AutoPacifica™s quarterly Alternative Fuel Forecast agrees that the government estimates are directionally correct. AutoPacifica™s research further indicates that vehicles with characteristics like Green Automotivea™s SUV EV and MPV EV will appeal to U.S. consumers from a number of different important perspectives and have the potential to be a significant part of the projected Electric Vehicle sales volume.
aIn addition to the forecasts by Baum & Associates and market research provided to us by AutoPacific, other independent automotive industry analysts predict that by 2015 the global electric vehicle market will reach 2.6 million units,a said Fred Luke, Green Automotivea™s President, aand the U.S. is expected to account for half, or more, of that market. As technological breakthroughs continue, I expect to see decreasing battery size and increasing efficiency, resulting in reduced electric vehicle costs. All of this equates to increasing acceptance of electric vehicles across mass markets, including our target buyers who are environmentally conscious, technology savvy, socially aware, early adopters."
About Green Automotive Company: Green Automotive Company Corporation is U.S. public company involved in the import and distribution of eco-friendly vehicles in the U.S. The Company is a development-stage importer/distributor of All-Electric SUV and crossover MPV vehicles throughout the United States. The Companya™s shares are traded on the OTC Market Tiera"OTC Pink Current under the symbol aGACRa. Visit [ www.usaelectricauto.com ] or write to [ info@usaelectricauto.com ].
Safe Harbor Statement - This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual or future results may differ materially from those anticipated depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Green Automotive Company Corporation incorporates by reference its disclosure and financial statements posted on [ www.otcmarkets.com ] and does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.
