New Study Predicting 20 Pct Increase in Hybrid Sales
A new report by analysts at TechNavio paints a “green” picture of the global growth for hybrid vehicles over the next few years, predicting a sales increase of almost 20 percent through 2015. In the Global Hybrid Car Market report, analysts point to increasing worldwide oil consumption and initiatives by governments “to create awareness and acceptance of hybrid cars” as driving the sales growth of hybrids, as well as car buyers' awareness that the vehicles create less pollution and reduce dependence on natural resources.
Taking into consideration the leading automakers in the industry -- Toyota, Honda, Ford, Nissan, General Motors and BMW -- the report says that the development of more efficient battery systems and their lower cost will reduce the price of these fuel-efficient alternatives to traditional gasoline vehicles. The report also predicts that the total cost of ownership for hybrid vehicles will be less than for gas-only vehicles by 2020, thanks to improved battery technology.
But the report also notes that the current high cost of hybrid vehicles “is acting as a barrier to the market growth.” While high gas prices and government incentives have helped to drive sales of some hybrids, the vehicles still usually come with a premium price tag. Plus, more automakers are now focusing on building high-mileage gasoline-powered vehicles -- even U.S. automakers that traditionally have ceded the segment to imports and focused instead on trucks and other large passenger vehicles -- which makes the break-even point for purchasing a hybrid even longer, in some cases.
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