Hybrid Vehicles
With gasoline at record prices, demand for some gas-electric hybrid vehicles is booming.
The average Toyota Prius is getting sold just 13 days after hitting the showroom floor, according to Power Information Network data sampled from dealerships. A year ago, it took 24 days to sell a Prius. Prius sales dropped 38% in May compared to a year ago, but that was because Toyota dealers were running out of cars to sell. Dealers had just 3,832 unsold at the end of a month during which they sold more than 15,000 cars. (Those same Toyota dealers had more than 19,000 Sequoia sport utility vehicles gathering dust at the end of May, according to Autodata Corp., after selling just 3,575 of the U.S.-made big rigs.)
Ford says its two hybrids — a version of the Escape SUV and Mercury Mariner — are selling well, and inventory levels are tight.
Car makers compete to demonstrate their pro-hybrid bona fides. The stampede toward hybrid technology reflects the much broader rush toward smaller, more fuel-efficient vehicles that has roiled the auto market as gasoline prices started in 2008 topping $4 a gallon.
Read more about this topic: Automotive Market In The United States
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