 |
Hybrid Vehicle Registrations Up More Than 25 Percent In 2003
Nationwide registrations for hybrid vehicles rose to 43,435 in 2003 according to R. L. Polk & Co. The Honda Civic hybrid accounted for 50 percent of all registrations with a total of 21,750. The Toyota Prius reached 20,387 registrations amounting to 47 percent of the market share. The Honda Insight accounted for the remaining three percent, with 1,298 total registrations.
"People are buying hybrids because of mileage benefits and environmental concerns. With the rising cost of gas in the U.S., hybrid registrations will likely increase in 2004," said Lonnie Miller, director of R.L. Polk's Analytical Solutions. "Hybrid technology allows for much improved mileage and lower emissions while maintaining the functionality and convenience of gasoline-powered vehicles. It is a smart technology that is accessible and easy to produce. There are a number of new hybrid vehicles planned for the coming year from several manufacturers including hybrid versions of the Chevy Silverado, GMC Sierra, Dodge Ram Pickup, Ford Escape, Honda Accord, Lexus RX 400 and the Toyota Highlander. These new hybrid offerings will expand the market and appeal of hybrid vehicles to a larger consumer base. More new hybrid vehicles are being planned beyond 2005 which will continue the growth of this new technology and market."
Source: R.L. Polk Company
|
|
