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Hybrid Market Share Grew 41 Percent in 2012

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hybrid-car-sales

Hybrid car sales (pictured: Toyota Camry hybrid)

The market share for hybrid car sales grew by 41 percent in 2012, according to an extensive study done by Experian Automotive. Total overall market share for hybrids stands at 3.1 percent and is expect to continue climbing in each quarter of 2013. Experian also analyzed characteristics of borrowers who purchased hybrid cars. The company found that hybrid purchasers had higher credit ratings, on average, than buyers of non-hybrid automobiles. A company spokesperson said, “Hybrid vehicle owners have long been perceived as environmentally conscious consumers. While they may have made the vehicle purchase due to caring for the environment, our research shows that hybrid owners are economically-minded as well.”

Hybrid Car Sales: Video

For a close-up look at the BMW i8 hybrid sports car doing the circuit at Nurburgring, see the short video clip above. When hybrid car sales kick into high gear, the 2014 BMW i8 will already be on the streets. Set for a late 2013 production date, the car is the final evolution of BMW’s Vision Efficient-Dynamics concept, which made auto show rounds several years ago. The high-performance hybrid boasts a combined 349 horsepower and a 4.6-second ZTS (zero-to-sixty) time. According to BMW, the i8 will achieve 78 mpg and will be able to roll for 22 miles on electric power alone. The gasoline engine in the i8 is a 6-cylinder, 3.0-liter. The car was one of the more popular show pieces for BMW on the international auto show circuit.

Hybrid Car Sales

Experian’s study summary noted that the average dollar amount financed for a hybrid purchase was $25,807, with an average monthly payment of $461. Buyers of new hybrid cars had credit ratings of 790, compared to the average U.S. score of 755 for buyers of non-hybrid cars.

For more about the company that compiled the data for the hybrid car sales study, see Experian’s official corporate website:
http://www.experian.com

Larry Bell writes about cars, gadgets, business, and history. He has been a professional writer and editor for over 20 years and enjoys all car-related topics, especially electric and hybrid vehicle news. Larry covers the auto industry for MPA and often reports live from the floor of major shows in Detroit, LA, San Francisco, Phoenix, Las Vegas and elsewhere.

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