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Hybrids are no longer a niche market, according to studies by ABI Research, a New York-based research firm.
In a news release, ABI said that by 2006, Toyota and Honda hybrid models alone could account for 10% of the over two million mid-sized passenger vehicle sales in the U.S. This conclusion was based on reports that Toyota will introduce a hybrid version of its Camry model to the U.S. in 2006, with a sales target of 100,000 vehicles, and Honda, which announced that a hybrid version of its Accord model will go on sale in the U.S. for 2005.
"This changes the game," says Dan Benjamin, an ABI Analyst, in a statement. "Honda and Toyota are the market leaders, as the Accord and the Camry are the dominant vehicles in the mid-sized segment. Other automakers will try to keep pace with their own hybrids, but those without proper development will either be forced to license hybrid technology or try and market diesels as a competing technology."
Diesels will be used by manufacturers such as DaimlerChrysler and Volkswagen in lieu of hybrids, ABI says. However, existing diesel offerings in the U.S. market cannot match current hybrids in terms of performance, economy, or cleanliness, and will have to be improved upon to remain competitive. Diesels must also be equipped with expensive exhaust treatment systems to comply with upcoming U.S. Tier 2 emissions standards.
Ford and Nissan will license hybrid technology from Toyota, while GM will use its own. The act of licensing technology can have its limitations, as the licensee may only have access to earlier versions of the technology, the research firm continued.
From Car and Driver. Link:
http://www.caranddriver.com/article.asp?se...article_id=7928
In a news release, ABI said that by 2006, Toyota and Honda hybrid models alone could account for 10% of the over two million mid-sized passenger vehicle sales in the U.S. This conclusion was based on reports that Toyota will introduce a hybrid version of its Camry model to the U.S. in 2006, with a sales target of 100,000 vehicles, and Honda, which announced that a hybrid version of its Accord model will go on sale in the U.S. for 2005.
"This changes the game," says Dan Benjamin, an ABI Analyst, in a statement. "Honda and Toyota are the market leaders, as the Accord and the Camry are the dominant vehicles in the mid-sized segment. Other automakers will try to keep pace with their own hybrids, but those without proper development will either be forced to license hybrid technology or try and market diesels as a competing technology."
Diesels will be used by manufacturers such as DaimlerChrysler and Volkswagen in lieu of hybrids, ABI says. However, existing diesel offerings in the U.S. market cannot match current hybrids in terms of performance, economy, or cleanliness, and will have to be improved upon to remain competitive. Diesels must also be equipped with expensive exhaust treatment systems to comply with upcoming U.S. Tier 2 emissions standards.
Ford and Nissan will license hybrid technology from Toyota, while GM will use its own. The act of licensing technology can have its limitations, as the licensee may only have access to earlier versions of the technology, the research firm continued.
From Car and Driver. Link:
http://www.caranddriver.com/article.asp?se...article_id=7928