Hybrids Selling Despite Tough Circumstances

Here are a few figures worthy of note: hybrid sales are up 11.4% year-on-year this October, while also grabbing a 2.9% market share.

Also keep in mind that overall light duty vehicle sales were pretty much flat. According to Autodata, October 2009 saw 838,052 units sold, while October 2008 had 838,156.

Why is this significant? Hybrids managed this increase despite relatively low gas prices and a slumping economy.

Toyota, not surprisingly, sold the most hybrids (18,757 units), a 15% increase year on year, while Ford followed in second (2,282 units) with a 14.3% increase year on year.

Reported US Sales of Hybrids Up 11.4% in October Year-on-Year; 2.9% New Vehicle Share for the Month (Green Car Congress)

Comments

I don't find this real surprising. Although gas prices are lower than last year they have increasing a bit over the last 6 months. There is still potential for prices to climb over $3 and I think people can see that. Also in tough economic times people try to save where they can and gas is one of those things to save on. There has also been constant advertising of the hybrid vehicles on tv. Prior to the Insight and Fusion hybrids Toyota did not have to advertise the Prius as much.

"relatively low gas prices" are also relatively high gas prices. Perhaps that could help explain it.

Just like Rock and Roll, hybrids are here to stay. They're selling because people understand the concept of saving gas and money on a daily basis. They're the most reliable cars on the road and are a good hedge against higher gas prices in the future. They aint never goin away. The market knows all, you don't a need a writer to see the writing on the wall.