Plug-in electric vehicles gain acceptance as Tesla nabs 8% of the luxury car market

The Electrification Coalition released a report last week stating that Tesla's Model S made up 8.4% of the U.S. luxury automotive market in the first six months of the year. Pretty amazing for a car that has been selling for only about 14 months. Proof of the Plug-in electric vehicle (PEV) trend is the fact that sales of PEVs have been twice as high in their first two years than hybrid vehicles were in the first two years after that market's initial launch. And it is set to continue, as Tesla CEO Elon Musk has been very vocal about introducing a $30,000 car for the masses by 2016.