Mass produced hybrids have come a long way since 2001 when the Prius was first launched in Japan. In 2009, 35 different hybrid models were offered accounting for just over 1 percent of the global market share. One percent (1.28% to be exact) may not seem like a big deal, but the emergence of hybrids is more than a vehicle purchase. It's a culture change. Hybrid sales are a direct results of multiple forces within a market coming together to drive a change in automotive purchase behavior.
These forces encourage consumers to include hybrids into their consideration set and ultimately buy a hybrid:
- High retail fuel prices
- Availability of hybrid supporting infrastructure (i.e. dealerships and service facilities)
- Consumer range and reliability confidence
- Government incentives
These topics and more are discussed in a new Polk View titled "Asia Pacific Region Propels Growth of Hybrid Market." I invite you to read the article and let me know your thoughts on the future of global hybrid sales including the adoption of hybrids within emerging markets and if Japan can sustain the hybrid sales trend growth experienced in 2009.
Posted by Margaret Zewatsky, Product Strategist, Polk (03.31.2010)