Is Cheap Gas Killing the Hybrid Market?
If you're in the market for a new car, you've probably noticed that the number of hybrids parked on dealer lots higher than ever -- even as the market for cars in general has collapsed. Much of the reason for this is the intense tongue-lashing the auto industry has received for focusing on SUVs and not the smaller, fuel-efficient cars of tomorrow. The trouble is, now that a glut of hybrids are being pumped into the market, the demand for hybrids seems to be vanishing like a mirage.This month, Toyota celebrated the sale of its 1,000,000th hybrid -- and while execs were reveling in their hybrid domination, they were also digesting the news that Prius sales were down 33% since last February. Hybrid sales across the board are down almost 2/3rds since last April. "When gas prices came down, the priority of buying a hybrid fell off quite quickly," says Wes Brown of LA-based Iceology. In some places, car buyers are trending back towards SUVs and trucks. Still, the slate for most automakers, especially the ones who took bailout money (ahem, GM and Chrysler), is loaded to the brim with hybrids and fuel-sippers. Has the demand for hybrids really collapsed, or is it just the ailing economy? Is our fuel consciousness truly only engaged when energy prices rise?
[via AutoblogGreen]
Comments [3]
Does Humane Veal Exist?
Eco-Friendly Halloween Costumes
Ed Begley, Jr. Talks to GreenDaily About Going Green for Cheap
