Hybrid Vehicle Registrations Rise By 38 Percent

According to RL Polk & Co., drivers in the US have registered more than 350,000 hybrid vehicles. Registrations of new hybrid vehicles rose 38 percent in 2007, while overall vehicle sales declined by 3 percent.

California, Florida, New York, Texas and Washington registered the largest number of hybrid vehicles, and for the second year in a row, Oklahoma registered the largest year-over-year percentage increase of hybrid registrations. The Toyota Prius accounted for more than half of the new hybrids sold in the US, increasing its market share from 46 percent to 51.2 percent.

According to the research firm, drivers who are concerned about fuel consumption aren't driving hybrid sales. Instead, the firm believes that competition among hybrid vehicle manufacturers has sparked interest in the technology. Additionally, hybrid technology has proven itself to be reliable.

The survey shows that new hybrid buyers tend to remain in the same vehicle category they were in prior to their hybrid purchase, citing data that showed that buyers of the Lexus LS 600h came from the prestige luxury segment, while Honda Civic Hybrid purchasers almost always drove a small car. Polk says that there is a strong relationship between the hybrid purchasers' new vehicles and their old ones, in terms of vehicle category. According to Polk, it's extremely important for automakers to offer hybrid models that mirror their conventional vehicle lines.

The company also predicts hybrid sales will increase another 30 percent this year, despite slow auto sales overall.

Source: RL Polk and Co.