"Fuel economy is the biggest issue that drives people to hybrids," said Mike Chung, an analyst with consumer automotive Web site Edmunds.com. "Three dollars has been the magic price point."
157,813 hybrids were sold through October compared with 64,014 hybrids during the same period last year. But Hybrids claim only 1.7 percent of the market although they are projected to grow to 3 or 4 percent in the next few years. In contrast, SUV's claim 22 percent of the market.
Jan. 1 will bring a perk: Buyers of new hybrids can claim federal tax credits. The credits are worth up to $3,400 per vehicle, according to a study by the American Council for an Energy Efficient Economy, a nonprofit group in Washington, D.C.
Read more at MENAFN.
Monday, November 21, 2005
Interest in hybrids is growing
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