JD Power and Associates Sees Substantial Hybrid Electric Market Growth

According to J.D. Power and Associates in their “2003 Hybrid Vehicle Outlook” report, released in May 2003, hybrid electric vehicle sales are expected to increase dramatically over the next decade. “The biggest limiting factor on sales is that up until now, the hybrid engine option has been offered only in compact cars,” said Walter McManus, executive director of global forecasting. “That’s about to change, and when it does, we’ll see sales increase dramatically. By 2005, trucks should account for about 39 percent of hybrid sales.” Hybrid vehicles are expected to penetrate one percent of the market by 2005 and reach three percent by 2009. Hybrids will account for nearly five percent of the market by 2013. (Information is from a press release by J.D. Power Associates. Their website is www.jdpower.com