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Take-Off for Hybrid Vehicle Sales
By 2006, Toyota and Honda hybrid vehicles alone could account for 10% of the over two million midsize passenger vehicle sales in the US - no longer a niche market, according to a study by automotive specialists ABI.
The study, 'Hybrid Electric Vehicles: Global Market Assessment, Key Technologies, and Forecasts', addresses major components, hybrid markets, and player strategies with forecasts through 2010. Honda has just announced that a hybrid version of its Accord model will go on sale in the US for 2005, and reports indicate that Toyota will introduce a hybrid version of the Camry to the US in 2006, with a sales target of 100,000 vehicles.
ABI Analyst Dan Benjamin points out that Honda and Toyota are the market leaders and the Accord and the Camry are the dominant vehicles in the mid-sized segment. 'This changes the game... Other automakers will try to keep pace with their own hybrids, but those without proper development will either be forced to license hybrid technology or try and market diesels as a competing technology'.
DaimlerChrysler and Volkswagen are two of the main makers likely to offer diesels as an alternative. However, ABI says that existing diesel offerings in the US market cannot match current hybrids in terms of performance, economy, or cleanliness, and will have to be improved upon to remain competitive. Diesels must also be equipped with expensive exhaust treatment systems to comply with upcoming US Tier 2 emissions standards.
GM will use their own hybrid technology, while Ford and Nissan will license it from Toyota, although they may only have access to earlier versions of the technology.
More information about the hybrid study is available at www.abiresearch.com/reports/HYB.html . A study of the market for diesel-powered light vehicles is also available, at www.abiresearch.com/reports/EMS.html
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