Car sales may be down, but not hybrid car sales. Despite the weak market, Toyota sold more hybrid cars than last July. I haven't finished compiling the numbers for the other carmakers, but since Toyota makes up 3/4 of the hybrid car market, hybrid car sales will be up about as much as total car sales are down.
According to the latest analysis, total auto sales fell 12.4 percent from last July. Of the six big automakers, only Nissan increased sales. GM, Ford, and Chrysler fell 22.3%, 19.2% and 8.4% respectively (and at the same lost the majority share of US sales to foreign automakers). Toyota and Honda fell 3.5 and 3.2 percent, respectively.
And all of this despite huge incentives from each of them. Incentives from each company ranged from an average of $1,146 for Honda to $4,082 for Chrysler.
Source: Sales wilt in July - Automotive News
As the auto market place declines on the whole, hybrid car sales have increased dramatically. The J.D. Power and Associates 2007 U.S. Hybrid Vehicle Forecast Second Quarter Update was just released. According to the report, 187,000 hybrid vehicles were sold in the US through June and they are predicting 345,000 hybrid vehicles will be sold by the end of the year. That's a 35 percent increase from last year.
J.D. Powers also expects the hybrid car market to continue to diversify. According to their report, as many as 65 hybrid models will be on the market by 2010. They also expect sales to reach 4.6 percent of the total U.S. new light vehicle market, or 775,000 units to be sold.
Thursday, August 02, 2007
Total Auto Sales Are Way Down, But Hybrid Sales Are Up
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