EcommerceTimes.com reports that a new study by J.D. Power says that rising gas prices will boost sales of Hybrid vehicles. The increasing cost at the pump has been motivating consumers to try alternatives and J.D. Power forecasts the growth in hybrid sales to continue.
J.D. Power projects that hybrids, which accounted for just 0.5 percent of the U.S. market last year, will increase to 3.5 percent by 2012 -- totaling 650,000 vehicles. Diesels are expected to grow from a 3.4 percent market share in 2004 to 7.5 percent or 1.37 million.
Americans bought 16.9 million new vehicles last year, and Power is projecting the market at more than 18 million in 2012.
Gas prices are climbing again so if the study is correct hybrid sales should continue to climb.
