Hybrids Shine in a Dragging Economy - 10/24/08

Sales of new hybrids rose by 40% in 2007 while overall auto sales drop.  250,000 additional hybrid vehicles were purchased the prior year.  Nearly one million hybrids are on the road.

The jump in hybrid car sales has been largely influenced by record gasoline prices and that make it more attractive to many consumers.

Experts believe the global demand for hybrid electric vehicles will continue to increase through 2015.  Cost differences between hybrids and conventional vehicles should decrease as production increases.

Early buyers of hybrids purchased cars that minimized environmental impact.  These buyers remain top customers.  As the market matured the “techies” were the next buyers followed by those who wanted energy independence and wanting better fuel economy.

The display shows if the car is running on gas or when it is running on battery.  It also displays the fuel economy in real-time.

Most hybrid buyers primarily purchased the car for three reasons: desire for energy independence, environmental preservation, and they were attracted to the new technology.

Hybrid sales could come under pressure with new fuel efficient vehicles coming to the market that run on ethanol and diesel.   

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