Sales of hybrids are in “free fall.”
The Financial Times reports,
Sales of hybrid petrol-electric cars, regarded not long ago as the cool cutting-edge of vehicle technology, are plunging due to the weak US economy and dramatic improvements in traditional internal combustion engines.
US sales of Toyota’s Prius, by far the most popular hybrid model, were 9.4 per cent lower in the first 10 months of this year than in January to October 2010. By contrast, overall light-vehicle sales rose 10 per cent…
General Motors said that sales of its hybrid SUVs and pick-up trucks are now mostly confined to businesses that “have some sort of ‘green vehicle’ commitment or mandate”.
“The hybrid market is in a free fall this month,” said Kelley Blue Book, a used-car data service.
Hybrids cost more and provide no special performance or environmental benefits. Barring some technological leap, their failure is inevitable.