Popularity of Hybrid Vehicles on the Rise

Recent global sales figures have confirmed the predictions of many auto-industry analysts regarding the increasing popularity of hybrid vehicles among consumers. Read more about this trend here.

According to a recent report from automotive industry experts Edmunds.com, sales of hybrid vehicles have increased 37% in early 2011.  This puts their sales growth above that of conventional, gas-fuelled car sales over the same period, providing confirmation of the optimistic predictions of auto-industry analysts.  Analysts have attributed the rising popularity of hybrids to a number of factors, the most immediate of which is suspected to be the recent rises in gas prices in North America as well as other parts of the world.  Additionally, industry experts and researchers, both abroad as well as in Finland, have theorized that the significant advancements made in the size and weight of hybrid batteries as well as the further development of Plug-In Hybrid vehicle technology will lead to a more widespread consumer adoption in coming years.

Nils-Olof Nylund, a research professor at the Finnish Technical Research Center VTT, predicts that the market share for hybrid vehicles will see a significant increase from its 2-3% share to 10% by the year 2015.  Nylund attributes this increased market share to the rise of the hybrid vehicle as an every-day vehicle ideally suited for family use, a development which is the result of the development of new Plug-In Hybrid vehicle models featuring significantly increased range.  Alongside these technological advances, industry analysts also note the impact of increased environmental consciousness in increasing consumer willingness to invest in these costlier, environmentally-friendly technologies.

However, despite these promising signs of improved sales, technological advances and increased consumer interest, sales of hybrid vehicles continue to lag in Finland.  A situation which market analysts attribute to the small number of options presently available on the Finnish market.  These concerns are, nonetheless, expected to decrease with the introduction of new, less expensive, more advanced hybrid vehicle models and sales are expected rise in the coming years.   Nonetheless, industry experts and market analysts agree that hybrid vehicles remain the most viable and practical solution to the challenge of reducing transport related carbon emissions in the immediate future.

Read more about the state of the hybrid vehicle industry, its technological advances and expert predictions of its future here:

Edmunds.com report on increased sales figures:

http://www.edmunds.com/about/press/toyota-honda-pace-37-first-quarter-sales-growth-of-hybrid-and-electric-vehicles-reports-edmundscom.html

Edmunds.com analysis of the hybrid vehicle market:

http://blogs.edmunds.com/greencaradvisor/2011/04/advanced-tech-vehicle-sales-soar-with-gas-prices.html

A study, conducted by business advisory firm Deloitte, regarding the adoption of electric vehicle and hybrid technologies in Europe:

http://www.greencarcongress.com/2011/03/deloitte-20110310.html

Included below are the articles (in Finnish) referenced in the above text:

http://www.taloussanomat.fi/auto-vihertyy/2011/04/15/hybridit-yleistyvat-nopeasti/20111871/286

http://www.talouselama.fi/uutiset/article601736.ece?s=l&wtm=talouselama/-30032011

 

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