Hybrids Trickle Into Auto Recycling

Hybrids Trickle Into Auto Recycling

American Recycler / read original article here

According to Automoblog.net, this is down from a peak of 3.1 percent in 2013. Based on these facts, hybrid vehicles are not as popular as they were before, and this has a lot to do with cost, maintenance and lower fuel prices today. The hybrid market has evolved, but traditional hybrid buyers are gravitating more towards fully electric vehicles (EV). Total U.S. EV sales saw a 71 percent increase from 2016 to 2017. It is expected that 1.75 percent of total vehicle sales for 2018 will be electric vehicles, which represents a growth of 48 percent overall.

According to Gordon Heidacker, managing director and automotive sector group head with Great American Group, the current status of the hybrid vehicle market in the U.S. differs from that of the rest of the world, mostly due to the varied regulatory efforts of local, federal and state governments around the globe.

“In the U.S., hybrid vehicle uptake is growing slower than the rest of the world. The hybrid, fuel cell and battery electric portion of the market continues to hover around five percent of the total market despite becoming more crowded with new models each year,” Heidacker said. Meanwhile, in total contrast, the Chinese market and government has declared its intention to go fully electric in all its city markets, driving innovation and transition for those automakers to compete in this region. Europe is not far behind China with the same mindset.

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