Toyota Motor Corp Honda Motor Co. and other carmakers may cut production costs for hybrid systems by 67 percent over the next decade as shipments rise and companies gain experience, according to JPMorgan Chase & Co.
Gasoline-electric systems on average will cost $1,919 each in 2018, compared with an estimated $5,869 this year as the global market grows 16-fold to 9.6 million units over the same period, the bank said in a report released yesterday.
Hybrid vehicle sales will grow to 10.2 percent of the overall market, with North America being the biggest and strong growth expected in Europe and China after 2013, JPMorgan auto analyst Takaki Nakanishi said. Higher gasoline prices and tightening emission standards are boosting demand for fuel- efficient and alternate-energy cars worldwide.
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