A new study by JPMorgan Chase & Co says hybrid costs will drop 67% over the next 10 years.
By 2018, they estimate a gas-electric hybrid will cost $1,919, as opposed to the estimated $5,869 they cost this year. They expect rising demand (9.6 million units by then) will push the price down.
Hybrid sales will increase by 10.2 percent of the overall market, with North America continuing to create the largest demand. Europe and China will trail, but analysts expect growth there will grow by 2013. Higher gas prices and stronger emissions standards are helping to create demand.
What this means to you is savings. As the cost to produce a hybrid drops, you can expect to see more hybrids types available. Car companies will be able to afford to build the hybrids we want, which will allow them to pass the stricter emissions laws, which will allow them to cut costs even more.
Friday, October 17, 2008
Hybrid Prices Expected to Drop Over the Next 10 Years
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