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Nearly 20% of U.S. cars will be hybrids by 2020, forecast says

Posted Thursday, May 28, 2009, 11:50 am in Employee News

JPMorgan auto analysts are predicting the global market for hybrid cars will grow more than 23-fold to 11.28 million vehicles by 2020 and account for nearly one in five cars sold in the United States, the Automotive News reported.

Demand for the fuel-efficient gasoline-electric vehicles will be spurred partly by stricter government regulation of carbon dioxide emissions in the United States and Europe, the JPMorgan auto analysts wrote in their 88-page annual hybrid-vehicle report, released May 22.

Global hybrid-vehicle volume totaled 480,000 in 2008, accounting for a mere 0.7 percent of global sales, the trade publication said. But the JPMorgan said the business is seen swelling to 11.28 million in the next 12 years, with hybrids accounting for 13.3 percent of global sales, the story said. (Automotive News)
 
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