Consumers have adjusted to higher fuel prices and gas-powered cars are more efficient, causing hybrid technology to lose its luster.
By Douglas Newcomb Tue 10:33 AM
Gas
prices have been a deciding factor in hybrid sales since the
fuel-efficient vehicles first arrived in showrooms. But as drivers grow
accustomed to higher prices at the pump and more hybrids have become
available -- although the premium paid for the technology hasn’t varied
much -- hybrid sales may have plateaued.A new analysis from the Automotive News Data Center and IHS/Polk predicts that hybrid sales may be ebbing in terms of market share and volume -- even with high gas prices as the new norm.
"People have realigned their budgets to $4 gas and they are making it work," AutoPacific analyst Dave Sullivan told Automotive News. He added that a big jump in gas prices could make more buyers reflexively consider hybrids. But according to AAA, the national average price of gasoline this summer is predicted to be between $3.55 and $3.70 per gallon.
Because of this, "hybrids are not all that compelling at the moment," Sullivan said.
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