According to a recent report by JPMorgan Chase & Co, the average cost surcharge for a hybrid
drivetrain will go down by 67 percent in the next decade. This means that using both an electric motor and an internal combustion engine under the same hood will cost both automakers and consumers less money. What will be the big driver of these cost reductions? Demand. According to the same study, in a decade, hybrid sales will account for 10 percent of the overall market, which equals 9.6 million units or an increase of 16 times their current market share. We know for sure that automakers have some pretty big plans for the technology, with such cars as the revised Toyota Prius
, new Honda Insight
and the first-ever Chevy Volt
all expected to hit the market in the next few years. Of course, diesel
technology is rapidly accelerating
as well and its costs would theoretically go down as more oil-burners are sold. What's clear, though, is that fuel-saving will be a priority moving forward, regardless of the technology used, and the costs are on their way down.