Survey Says: One in five cars sold in U.S. by 2020 will be a hybrid
According to a recent study conducted by JPMorgan, hybrid sales are about to take off. Last year, there were some 480,000 total hybrid vehicles sold around the world, which represents less than one percent of global sales. By 2020, though, JPMorgan predicts that 11.28 million hybrids will be sold annually, representing over 13-percent of all vehicles sold.
Much of that increase in sales will be attributed to the United States, as the report suggests that hybrids will capture nearly 20 percent of the total market share in this country. Driving the increase in hybrid vehicle sales will be factors such as increased pressure from government agencies to reduce fuel consumption and overall vehicle emissions and a drastic reduction in the cost of hybrid technology.
Of course, it stands to reason that automakers will benefit from this uptick in hybrid vehicle sales, but JPMorgan's study also portends good things for the ailing supplier industry, which produces the majority of the hybrid drivetrain components used by major automakers all around the world.
[Source: Automotive News - sub. req'd]
Reader Comments (Page 1 of 1)
James 11:01AM (5/28/2009)
I hope we can manage to do a lot more in the coming decade than achieve this milestone. By then we need a large portion of our vehicles to be petroleum-free.
http://www.design-impact.org/blog/2009/05/earth-decade/
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required 11:21AM (5/28/2009)
I agree.
Ernie 5:43PM (5/28/2009)
Thirded. In addition, we also need to shut down all the world's coal power plants in that time.
Pretty scary, huh?
Paul 12:23PM (5/28/2009)
These reports are hilarious.
Wait till Honda and Toyota have order backlogs for Hybrids then predict hybrid sales are about to take off, brilliant. How does JPMorgan expect ANYONE to believe anything they have to say that 'predicts' will happen 11 years off... Did they see the melt down coming a decade ahead of time? LOL The arrogance of these people.
I predict (with my crystal ball) that in 11 years as EV battery production volume ramps up and costs drop towards $100 kWh that hybrids will be superceeded by Battery EVs and 20% is a tame estimate. Bear in mind, the entire road fleet turns over every 15 years.
About the only + is that this is a postive report instead of the idiot 'boffins' releasing reports claiming volt batteries cost $1000 kWh.. LOL
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jharlan 12:50PM (5/28/2009)
There is no way they have a clue what we will be buying in 11 years! Their economic predictions have certainly been suspect. Why would anyone believe they can see into the future. I am not saying they are wrong, but what I am saying is they don't know what the hell they are talking about. You can make vague predictions about the future, but if you put a date on it, you are dead meat!
What I will say is hope for the best, and prepare for the worst.
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Throwback 2:32PM (5/28/2009)
I predict hybrid sales will be 2% of the market in 2020. I came to this conclusion after exhaustive analytical reasearch. I rolled some dice and got snake eyes.
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