Hybrid Sales Down 33% in July Despite Increasing Incentives
Sales of hybrid models in the month of July are down a significant 33 percent compared to the same period a year ago, this, despite, significant incentives. There’s a great deal of speculation as to why this is, ranging from low fuel costs to a lack of new products to the possibility that consumers are holding off on hybrids to buy upcoming electric cars like the Chevy Volt and Nissan Leaf. But whatever the reason, the numbers tell the story with the market for hybrids models dropping by a third.
Overall sales have increased when compared to June, rising 6.5 percent over that month’s 21,210 tally. Driving that increase, however, is the Toyota Prius, which accounted for 59.6 percent of all hybrids sold in the U.S. in July. And driving that car’s popularity are increasing incentives. Overall, just 8 of the 21 hybrids currently on sale sold more in July than June, meaning that were it not for the Prius’ gains, hybrid sales would have plummeted further.
[Source: Green Car Advisor]
With AutoGuide from its launch, Colum previously acted as Editor-in-Chief of Modified Luxury & Exotics magazine where he became a certifiable car snob driving supercars like the Koenigsegg CCX and racing down the autobahn in anything over 500 hp. He has won numerous automotive journalism awards including the Best Video Journalism Award in 2014 and 2015 from the Automotive Journalists Association of Canada (AJAC). Colum founded Geared Content Studios, VerticalScope's in-house branded content division and works to find ways to integrate brands organically into content.
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Could it maybe be the Cadillac-like price tag for a Focus-like car? All of the cost, and none of the luxury.