January 5, 2006
Sales of hybrid-electric vehicles expected to grow 268 per cent
Westlake Village, California – U.S. sales of hybrid-electric vehicles are anticipated to grow by 268 per cent between 2005 and 2012, according to the most recent update by J.D. Power and Associates Automotive Forecasting.
Hybrid vehicle sales are expected to grow from approximately 212,000 vehicles in 2005 to 780,000 by 2012. However, they will still represent only a small portion of the market, growing from 1.3 per cent of U.S. light vehicle sales in 2005 to 4.2 per cent market share by 2012.
“Future growth will be the result of more vehicle manufacturers entering the hybrid-electric market and a greater number of hybrid models,” said Anthony Pratt, senior manager of global powertrain forecasting at J.D. Power and Associates. “There are currently only eleven hybrid models available in the U.S market, and by 2012 that number could increase to 52 models.”
While the number of available hybrid models is expected to increase dramatically in the next several years, Pratt said many will be in segments that currently do not have hybrid alternatives, such as full-size pickups, minivans and luxury cars. The market has grown from two models and fewer than 10,000 vehicles sold in 2000, to eleven models and an estimated 212,000 vehicles in 2005.