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US Hybrid Vehicle Sales Up 11.4% in Oct 09
Dec 03, 2009

The hybrid vehicle sales in the US grew 11.4% in the month of October 2009 from the same month last year on the back of lucrative incentives.
 
According to the Green Car Congress, sales of hybrid vehicles in the US rose 11.4% during October 2009 from the corresponding month last year (October 2008), with representation of 2.9% in total new vehicle sales for the month, as reported by Canadian Driver.
 
Hybrid vehicle sales for October 2009 stood at 24,475 Units and the figures were partly escalated on the fact that October 2009 had 28 working days whereas there were 27 working days in October 2008. With the total light duty vehicle sales remained almost flat in the month (October 2009) as 838,052 Units were sold compared to 838,156 Units in October 2008, hybrid cars seem to have a bright future to develop into a mainstream alternative.
Toyota posted a sale of 18757 hybrid vehicles in the US during October 2009, an increase of 15% year-on-year and represented 12.3% of its total sales in the month. Sales of Prius surged 14.3% to a figure of 13.496 Units while the sales of Camry Hybrid declined 49.6% to 1,407 Units (a share of 4.7% in total Camry sales).
 
The hybrid car sales have soared on account of a number of factors which include incentive programs like Cash for Clunker and other factory incentives that flared up sales number.
 
In addition, the sales of hybrid cars in the US have been rising on the back of soaring fuel prices, but the fuel prices are not sole factors that actually rallied hybrid car sales, other factors also contributed to this growth. Launch of new hybrid cars models have promoted customers to spend on these models.
 
However, the recent economic slowdown has had a significant negative impact on the automobile sales in the US due to which the hybrid vehicles industry failed to sustain the same growth rate in 2008 as it had witnessed in the past few years. But the situation will take a reverse turn in 2010 and the sector is expected to post positive growth in sales, said “Hybrid Car Market Forecast to 2012”, a market research report by RNCOS.
 
According to a Research Analyst at RNCOS, “The soaring fuel prices will be a big booster for the hybrid vehicles industry in coming years as consumers’ priority will shift to have more fuel efficient transport system. In view of this change in consumers’ preference, the demand for hybrid and alternative fuel vehicles will rise in the US.”
 
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