News: Hybrid Vehicles 6% of U.S. Car Market by 2013
Posted: November 11, 2006 02:12AM
- "Hybrid vehicles have been a niche market at best since their first introductions in the late 1990s. First developed by Toyota and Honda, the early systems were examined in detail by their competitors and the conclusion was that the added complexity and weight would make the vehicles too expensive for all but wealthy consumers with an interest in preserving the environment. "Early hybrid vehicles sacrificed space, comfort, and performance for low emissions and high fuel economy," says ABI Research senior analyst David Alexander. "Now a much wider variety of hybrid vehicles is available." A new ABI Research study, "Consumer Hybrid Vehicles," finds that the market now offers the benefits of a number of different hybrid applications, some of which are still designed for reduced fuel consumption and emissions while others offer enhanced performance or exclusive features such as AC power outlets. This adaptation to a wider market should see consumer hybrids' market share in the United States rise from just 1.25% in 2005 to at least 6% in 2013."