Hybrid market sees huge boost in July thanks to Cash for Clunkers

It comes as no surprise that the Cash for Clunkers (aka Cars Allowance Rebate System) provided a boost for July auto sales. It helped FoMoCo report 118,197 retail sales in July, up 9 percent versus a year ago. However, the incentive also provided a huge boost for the hybrid market (also no surprise).

According to Green Car Advisor, sales of gas-electric hybrid cars, SUVs and trucks were up 35 percent in July. By comparison, sales of conventional gasoline vehicles were up 15.4 percent for the month.

The sales increase in the hybrid market was single-handedly led by Toyota’s new 2010 Prius, which saw its first full month of sales in July. Sales of the model were up...
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david999 - 8/5/2009 12:21:58 PM

+3 Boost

How about the fact that oil prices doubled in the last few months being a greater incentive for purchasing hybrid vehicles?