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Government Initiatives a Must to Boast Hybrid Car Sales
Mar 04, 2009
Although hybrid cars are fuel efficient and environment-friendly, their sales declined significantly in the first month of 2009 due to higher price tags, said industry experts. However, RNCOS in its new research report, “Global Hybrid Car Market Forecast to 2010”, says that the global sales of hybrid vehicles are expected to grow at a CAGR of nearly 12% from 2008 to 2015.
According to a Senior Research Analyst at RNCOS, the prospective surge in hybrid vehicle sales in the next five years is primarily accredited to rapid development of new technology in the backdrop of favorable policies taking shape in Europe and the United States.
Apart from technology development, industry’s aggressive policy to support electrification will give immunity to manufacturers of electric and other highly efficient vehicles from recession, said RNCOS Analyst. Thus, hybrid vehicles are anticipated to see strong growth along with other alternative powered vehicles in near future.
Citing high tag prices as the biggest challenge to the growth of hybrid vehicles market, Research Analyst suggested that manufacturing of smaller size hybrid systems (components) and availability (of components) at lower cost would reduce the hybrid vehicle prices. Moreover, the governments of various countries have to take some initiatives like giving purchase incentives and indirect incentives to ensure rapid growth in the market.
At present, the presence of hybrid car market is very limited due to its earlier stage of development, but its size is expanding at fast pace. Car manufacturers planning to further penetrate into this market are also reevaluating their development strategies.
“Global Hybrid Car Market Forecast to 2010” extensively studies the hybrid car market at both country and global levels and provides detailed information on the market. The report includes in-depth evaluation of current and past trends to help clients identify untapped opportunities in the global hybrid car market.
The research report also provides forecast on various segments of the industry, including hybrid vehicle production & sales HEV battery sales, Li-ion battery sales and hybrid component market.
For more information visit: http://www.rncos.com/Report/IM128.htm
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