Driving around San Francisco, there can be a Prius sighting per city block. Well, today, J.D. Power and Associates put out its ‘2007 U.S. Hybrid Vehicle Forecast Second Quarter Update’ that gives us some hard numbers to confirm what we already knew.
The report says 187,000 hybrid vehicles were sold in the U.S. market through the first half of 2007, and the market is on track to sell 345,000 hybrids in 2007. That’s a 35 percent increase from the 256,000 hybrids sold in 2006. The report also cites high gas prices and automakers lowering the price premium for a boost in sales this year. By 2010 they project hybrid sales will reach nearly 775,000 units.
Not surprisingly the report says Toyota’s Prius is by far the most popular hybrid representing over 50 percent of all new hybrid vehicles sold in the U.S. in 2007, selling 94,503 units through June 2007. Silicon Valley drivers definitely like it — it was reported recently that the Prius became the best-selling car in Silicon Valley.
The report says the Prius will remain the leading hybrid sold over the next few years, though there will be growing competition. Nine new hybrid models entered the market in 2007 (seven of which are expected to go on sale between July and December) and there will be as many as 65 hybrid models (28 cars and 37 light trucks) by 2010, according to the report.