Survey Sees Bright Future for Hybrid Car Sales

KPGM survey found around 34 percent of industry executives expected the number of hybrids sold to grow by another 100 000 units in 2007, while an even bigger group, 37 percent, said that a figure closer to 500 000 for this year was more realistic.

Published: 05-Mar-2007

Higher oil prices and a need for greater fuel efficiency could drive consumers' buying habits towards more fuel-efficient vehicles, paving the way for rapid growth in the sales of hybrid vehicles, KPMG's latest automotive survey suggested.

The study, which is based on interviews with 150 senior executives of vehicle manufacturers and suppliers, showed that there was a "growing bullishness" about the sales of hybrid cars, which was underpinned by the increasing and volatile oil price.

KMPG launched its global automotive survey in South Africa on Friday and reported that around 200 000 hybrid units were sold in 2006. It stated that around 34% of industry executives expected the number of hybrids sold to grow by another 100 000 units in 2007, while an even bigger group, 37%, said that a figure closer to 500 000 for this year was more realistic.

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