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Hybrid sales still growing, but pace slows

Posted on 27 February 2007 | 0 Comments

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U.S. sales of gas-electric hybrid vehicles rose 28 percent from 2005 to 2006, but the rate of growth is starting to slow, according to a company that analyzes automotive-industry data. Consumers bought 254,545 hybrids last year as gasoline prices hit $3 a gallon or more for much of the year, up from 199,148 in 2005, according to nationwide auto-registration data compiled by R.L. Polk and released Monday. The rate of growth was the second-slowest since 2000, due in large part to car buyers having more environmentally friendly options, plus expiration of some tax credits on Toyota hybrids, said Lonnie Miller, director of industry analysis for R.L. Polk. Miller expects the growth to continue, though, because demand is still strong and three new hybrid models are in the works this year. Read more of the AP article on The Seattle Times website.