According to R.L. Polk & Co., nationwide hybrid vehicle registrations increased to 83,153 in 2004, an increase of 81 percent over 2003. The Toyota Prius and Honda Civic are the most popular hybrid models, with the Prius occupying 64 percent of the market and the Civic occupying 31 percent. The market has grown a staggering 960 percent since the introduction of hybrid vehicle in 2000.
"Expectations of continuing high gas prices, combined with the introduction of new models to the consumer market, have heightened interest in hybrid vehicles," says Lonnie Miller, director of Polk's Analytical Solutions. "Hybrids offer improved fuel efficiency and lower emissions while maintaining the functionality and convenience of gasoline-powered vehicles. Hybrid technology is also easy to produce and works within the existing transportation infrastructure."
The popularity of hybrid vehicles has prompted manufacturers to offer an increasing number of choices. Most recently, hybrid versions of the Dodge Ram, Lexus RX 400h and Mercury Mariner have entered the market, and the 2006 model year will see hybrid versions of the Saturn VUE, Toyota Highlander and Nissan Altima. Almost a dozen new hybrid vehicle models are expected to be introduced within the next three years.
California leads the nation in new hybrid vehicle registrations, recording 25,021 in 2004. The top metropolitan areas for hybrid registrations were Los Angeles and San Francisco, with 10,399 and 9,051 respectively.
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