While the number of available hybrid models in the U.S. will increase this year, Polk anticipates only a slight improvement in this category from its current level of approximately 2.9 percent of the overall market. Reasons for this include the continued significant price differential between hybrids and traditionally-powered vehicles, and the high number of traditionally-powered vehicles that achieve similar mileage targets as those in the hybrid segment.
Polk analysts are currently reviewing global light vehicle forecasts with customers through 2023. Polk expects a return to 16 million units in the U.S. by 2015, if not before, barring any unusual activity in the marketplace. The U.S. market last achieved 16 million units in 2007.
Polk's forecasting team analyzes market trends by region and serves as a comprehensive resource for manufacturers, dealers and suppliers to the light and commercial vehicle markets.
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For years, alternative fuel vehicles appeared to be a somewhat futuristic dream for environmentally concerned individuals but today they are a reality for an increasing number of US consumers.