Hybrid Cars Sale is on happy vroom this year. Power Information Network Data shows a net 3.4% growth in the sale of hybrid car market in the United States during the month of May alone. This happens to be the highest sales per month ever.Hybrid Car sale constitutes a very small component of the total car sale market today. The total market share was 2.8% out of the total new cars sold during a period from January to June 3, this year. RNCOS E-services Pvt. Ltd. issued a report recently stating that the hybrid cars in United States crossed 254,000 in 2006. The Hybrid Cars Market Outlook Report of RNCOS calculates this number to be just 1.9% of the total vehicle sale volume. The market is maturing slowly and it expects a net sale of 1.68 million hybrid cars by the year 2012.
Higher car price tag is one of the major concerns for customers as well as the manufacturers. These hybrid Cars run on a system that works for gasoline and electric power at the same time. Facility of switching to one system to other system provides fuel efficiency to the customer. The technology is there in the market since long now and customers are getting used to it, though slowly. Other versions of Hybrid Technology are facing a problem of lengthy guarantees, dealership, and service issues.” That might not be fixed by a non-dealership mechanic”, says Rosen at EdmundsAutoObserver.com.
Statistical data of State Department of Motor Vehicles provides an interesting trend of the sales pattern. It shows that more than 1560 hybrid cars were on the registration panel in Niagara and Erie Counties alone. This was a sharp jump from 960 cars to 1560 cars in just one year.
Hybrid Car segment is just a tiny one in the whole vehicle segment of auto market in United States. Market is taking new shapes slowly and new trends are now emerging. Hybrid cars are here to stay and grow exponentially.” I think it will continue to grow”, Says Frank Downing Jr., President, Towne Automotive Group.
The Hybrid Cars market Outlook Report of RNCOS demonstrates analytical trends of global hybrid car market. Various parameters were under consideration while making this report. Some of these parameters include market size, player’s strategies, regional markets, government policies, driving factors and opportunities with challenges.