Abstract
The invention of hybrid electric vehicles (HEV) has served the dual purpose of
fuel economy and the growing demand for less polluting vehicles. The vehicles
that run on gasoline incur high fuel costs for customers and the electric
vehicles involve high initial investment, as they are much costlier. To deal
with the situation, automobile manufacturers have invented the hybrid electric
vehicle that runs on both gasoline and with electric motors.
Despite being
in the market for the last ten years, hybrid cars still account for less than
2% of all new car sales. Europe has shown reluctance for adopting hybrid cars
as only 0.2% of the total vehicles sold in Europe are hybrids. This is mainly
because of the prominence and affordability of the diesel automobile.
Demand
for hybrid cars are likely to increase significantly because of fuel
efficiency with the price of gasoline increasing at an alarming rate.
Regulations to curb emissions is also a shot in the arm for hybrid vehicle
manufacturers as automobiles are one of the most polluting entities globally.
Demands for hybrid vehicles are also likely to increase as various governments
are offering tax incentives to stimulate the demand for hybrid vehicles.
Currently, three automobile manufacturers -- Toyota, Ford and Honda control
the overall global hybrid cars market. The dominance of these three players
are likely to continue for the next three years with other automobile
manufacturers like General Motors, DaimlerChrysler and Volkswagen being the
late entrants to this lucrative market.
The report is a study on the hybrid
car markets -- the factors that are driving its growth and the challenges it
is likely to face from alternative technologies. The report analyzed the three
prominent markets for hybrid cars -- United States, Europe and Japan. It also
assesses the sales, strategies and plans of the three leading hybrid car
manufacturers -- Toyota, Ford and Honda. The future of the hybrid car market
has also been studied in this report.
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