JD Power/LMC Predicts Growth in Hybrid Engines

(Akron/Tire Review) JD Power/LMC Automotive Forecasting Services predicts that new vehicles powered by hybrid electric or clean diesel engines will garner 11 per cent of US sales by 2012. Currently, such vehicles hold a 4.8 per cent market share, said the firm.

In a new report the companies say hybrids, which held a meagre 0.5 per cent of the US new vehicle market in 2004, will increase to 3.5 per cent market share by 2012, Diesels, meanwhile, will jump from 3 per cent share in 2004 to 7.5 per cent share over the next seven years.

“Higher gas prices are acting as a catalyst for automakers and consumers to find alternatives to the traditional gasoline internal combustions engine,” said Anthony Pratt, senior manager of global powertrain forecasting at J.D. Power-LMC. “We anticipate this will lead to dramatic growth, particularly with diesels, over the next several years.”

Despite a higher price, the J.D. Power-LMC study shows the number of hybrid electric models on the market is expected to increase from 10 in 2005 to 44 by 2012, while the number of diesel models is expected to grow from 14 to 26.