Hybrid vehicle sales will grow by nearly 400 percent during the next seven years, according to a new report from analyst firm ABI Research.
By 2013 hybrids will make up 6 percent of annual U.S. auto sales, says the analyst firm. That's more than a million hybrid vehicles per year, and along with clean diesel vehicles, which will probably sell almost as widely by then, that's a lot less emissions and a few million barrels less of oil being imported. (For example, the Ford Escape Hybrid uses about 5 barrels less of oil per year than the non-hybrid model.)
But I disagree with the folks at ABI that performance hybrids will be a significant driver in sales. The Honda Accord is aimed more at performance, and it arguably the worst-selling hybrid to date. Yes, it will be nice to get 6-cylinder performance out of a 4-cylinder engine, but that will be small potatoes compared to the folks who want to spend and expel less.
If crude oil goes back up to $70+ again and stays there and the auto companies are smart we could see 10 percent growth. I look forward to the day when passenger vehicles that get less than 30 mpg or can't use biodiesel or ethanol go the way of the dinosaur, a fitting circle.
