Nationwide registrations for new hybrid vehicles rose to 199,148 in 2005-a 139% increase from 2004, according to R. L. Polk & Co. For the second year in a row, Toyota Prius led the segment, commanding 52.6% of new registrations. However, with more models entering the market, the hybrid share for any given vehicle is being challenged.
"It's an exciting period for U.S. buyers as automakers continue their march to offer more choices of gas-electric hybrid models," said Lonnie Miller, director of Industry Analysis for R. L. Polk & Co. "This time last year, the category had grown more than 80%. Now it's more than doubled, aided by a growing number of models in this segment including the Lexus RX400h, Toyota Highlander and the Mercury Mariner."
Overall, the hybrid category reflects a little more than 1% of all new-vehicle registrations in the United States.
Following the Toyota Prius, the Honda Civic was the second most registered hybrid model, taking 12.8% of the category, followed by the Lexus RX400h, which had 9.7% of all new hybrid registrations. Combined, Toyota and Lexus had better than seven out of 10 (70.7%) of all new hybrid registrations in 2005.
The core set of hybrid vehicles offered today are powered by internal combustion engines, but are also equipped with batteries recharged during driving and an electric motor to assist with power demand. Hybrids do not need to be plugged in, yet they deliver exceptional mileage compared to their gas-only counterparts as well as to many other models. Hybrids are considered environmentally friendly alternatives to traditional internal combustion vehicles.
REGIONAL STRENGTHS
California continues to lead the way for hybrids with 52,619 new hybrid vehicle registrations in 2005, up from 25,021 in 2004. California accounts for 26.4% of the nation's share for new hybrid units. This outpaces second-ranked Florida by more than a five-to-one margin. Eight states (California, Florida, Texas, New York, Virginia, Illinois, Washington and Pennsylvania) accounted for more than 56% of the nation's hybrid registrations.
Four of the country's top-10 hybrid markets were from California (Los Angeles, San Francisco, San Diego and Sacramento). Los Angeles still remains the top metropolitan area for hybrid vehicles with 11.5% of all U.S. registrations in 2005.
"State and local governments are continuing to evaluate the 'perks' they want to reward to environmentally conscious drivers such as being able to drive solo in high occupancy lanes or tax benefits for buying a new hybrid," said Miller. "These are strong motivators to consider. In addition, fuel prices are spiking throughout the country again though our research indicates people buy a hybrid not for short-term economic gains, but to make a clear statement about what they want to do for the larger community."
Source: “Hybrid Vehicle Registrations More Than Double in 2005,” R. L. Polk & Co./PR Newswire
