Hybrid Sales Growth Slow Despite Increased Availability

Hybrid Sales Growth Slow Despite Increased Availability

Hybrid vehicles are available in a greater variety than ever before, but their share of the overall auto market declined from 2013 to 2014 according to Polk.

In 2013, hybrid vehicles held a 3.3 percent market share, but in 2014 that figure is down to only three percent so far despite there being 47 hybrids available or nearly double the number of models in 2009, which goes against theory that sales increase with additional model availability.

Ford’s CMax held an eight percent market share a year ago and has since dropped to five percent, although that isn’t true for hybrids in general. The Fusion hybrid has actually increased to 11 percent in the same time period.

Toyota holds a commanding portion of the hybrid market with roughly 40 percent between its four-model lineup. Toyota is also expected to release its next generation Prius for the 2015 model year with significant fuel economy enhancements. Without combining the Prius family of vehicles as one, the Prius is still the most popular, followed by the Ford Fusion.

[Source: Polk]