Strong Growth Driving More and More Automakers into HEV Market

According to Michigan-based R. L. Polk & Co. (www.polk.com), self-described as "a premier provider of automotive information solution services to corporations worldwide," registrations for hybrid vehicles rose to 43,435 in the United States during 2003, which is a 25.8 percent increase in comparison to 2002 stats.

The Honda Civic Hybrid made up 50 percent of all registrations with a total of 21,750, beating Toyotas Prius that managed only 20,387 registrants amounting to 47 percent of total market share. Hondas innovative but relatively impractical

With the Honda Civic Hybrid making up the bulk of new hybrid vehicle sales in the United States, overall registrations rose over 25 percent in 2003. (Photo: Trevor Hofmann, American Auto Press)

"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," stated Lonnie Miller, director of Polks Analytical Solutions. "There are a number of new hybrid vehicles planned

Toyotas Prius managed 20,387 registrants, amounting to 47 percent of total hybrid market share. (Photo: Trevor Hofmann, American Auto Press)

And Miller only tells a partial story, with yet more Hybrids announced, including the Mazda6-based Ford Taurus replacement (previously dubbed Futura),

"New hybrid offerings will expand the market and appeal of hybrid vehicles to a larger consumer base." (Photo: Lexus)

Since the first HEV hit the market in model year 2000, sales have increased over 570 percent with a compound annual growth rate of 88.6 percent.

As expected, Los Angeles, CA led all markets for HEV registrations, with a total of 4,701. Second at 4,024 registrants was Washington, D.C., with San Francisco/Oakland/San Jose, CA taking third place with 3,813 new hybrid owners. Fourth was New York City, NY at 1,768 new environmentally correct owners while 1,700 Seattle/Tacoma, WA residents bought into the trend.

"Hybrid buyers have some important differences when compared to buyers of gasoline engine vehicles," Miller added. "They are slightly

The popularity of HEVs is a definite sign that the times are changing, and people are searching for alternatives to conventional combustion engines. (Photo: Ford Motor Company)

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