Nationwide registrations for new hybrid vehicles rose to 350,289 registrations in 2007 – a 38 percent increase from 2006, according to R. L. Polk & Co. The Toyota Prius continued to lead the segment with 179,178 total new registrations – 51.2 percent of hybrid market share.
“Auto buyers are benefiting from new hybrid launches, and fleecing of old models that didn’t work. There is a lot of excitement being generated within the industry as manufacturers adjust plans to adapt to consumer demand,” said Lonnie Miller, director of Industry Analysis at Polk. “While the Toyota Prius has a stronghold on the midsize car hybrid segment, the Toyota Highlander and Ford Escape share leadership positions in the SUV hybrid segment. As hybrid buyers migrate within a brand, manufacturers have to be prepared to meet their expectations for offerings if they want consumers to remain loyal.”
While most of the market continues to see hybrid models enabled by various forms of gas-electric powertrains, the entire hybrid segment will evolve as other technologies are developed and tested. With the end-goal of providing more fuel-efficient vehicles, future offerings will expand beyond the current generation of hybrid models.
“Hybrids are a great foray into the world of fuel-efficiency for many buyers,” said Miller. “Unfortunately, we still have an uphill battle for diesel and ethanol adoption given the need for more consumer education and improvements with filling station infrastructure. It will be interesting to see how more advanced technologies progress this whole category, but they can’t come soon enough.”
Source: R. L. Polk & Co.
