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Friday, January 23, 2009
Just as gasoline-electric hybrids looked like they were ready to conquer America when gas prices rose up to nearly $4 a gallon in July, a steep decrease in fuel costs -aided by the collapse of the auto market in the second half of the year- resulted to a significant decrease in their sales. According to a report from Autonews, U.S. sales of hybrids fell 9,9% in 2008 to 315,761 units. Even Toyota, which controls about 75% of the hybrid market in the States, saw its sales drop 12.5 percent the past year.
General Motors on the other hand, saw its hybrid sales nearly triple from 5,175 units in 2007 to 14,439 units in 2008, but that was mainly due to the addition of several new models like the Chevrolet Malibu and Tahoe, Cadillac Escalade and GMC Yukon.
But as GM's Vice Chairman Bob Lutz rightfully pointed out at the Detroit Show last week, "at $1.50 a gallon, the American public is not willing to pay for fuel-saving technology." We couldn't agree more. If fuel prices continue to remain at these levels and unless automakers find a way to reduce the cost of these vehicles -eg. like Honda promises that it has done with the 2009 Insight, we seriously doubt that American consumers will embrace hybrids or any type of fuel-efficient vehicles for that matter.
And just to make it clear, it's not just Americans; do you think that European or Japanese consumers would choose a fuel-efficient car over one with better performance if gasoline prices were as cheap as they are in the States?
Source: Autonews
