With oil price plunging since the latter part of 2008, the demand for hybrid cars has dwindled in numbers. As a car owner, why invest in a hybrid if you can manage the fuel prices for now? Throw in the fact that people are cutting down on spending as well and perhaps you can imagine how hybrids may become a thing of the past.
Toyota and Ford have held back their hybrid cars production. With an unreasonable demand, the last thing that these two car manufacturing giants would want is to keep a large inventory of these hybrid cars (the Toyota Prius and the Ford Escape).
So have we seen the end of hybrid cars as an alternative mode of transportation today? Unless oil prices fluctuate again or the financial crisis improves, it is unlikely we will see hybrids flourish in the economy. So don’t be surprised if these concerned car manufacturers focus on making fuel-based car models once again.
Via Business Week
Tags: car manufacturers, car models, car owner, car production, car sales, financial crisis, ford escape, fuel prices, hybrid car, hybrid cars, hybrids, oil price, oil prices, toyota prius