NEW YORK ( TheStreet) -- The latest sales figures from the electric car market suggest that the outlook remains mixed for companies whose success hinges on broader adoption of models like the Chevy Volt and Nissan Leaf.
For lithium ion battery companies, such as A123 Systems (AONE) -- hoping to cash in on future GM electric car models -- and related battery technology, such as lithium ion separator company Polypore (PPO - Get Report), broader adoption of electric cars is the core growth narrative.
|Volt sales rebound, but consumer demand for electric cars still seems tepid.|
In February, GM sold 1,023 Chevy Volts and Nissan sold 478 Leafs in North America, compared with sales of 603 Volts and 676 Leafs in January. Year over year, the numbers for both electric cars look good, up from 281 Volts and 67 Leafs in February 2011. The pickup month over month in Volt sales from 603 in January to 1,203 also suggests that the Volt is rebounding from the battery fire issue with which 2012 began.Volt sales are still well below the December 2011 record level, though, and Nissan Leaf sales continue to trend down in the North America, on a decline for over six months, and February being the worst sales month for the Leaf since last April. Polypore has become