It's that time of month again: October's sales numbers are in and gas-electric hybrids soared to a five-month high. Truth be told, the recent trending suggests that November's sales figures for hybrids may continue to climb even higher.
Let's dive in. October's sales of all hybrids, which includes cars, light trucks and SUVs, jumped up by 7.1 percent over September sales figures. Sales volume for October hit 22,254 units, the highest mark reported since May of this year. In addition, the market share for hybrids climbed to 2.54 percent, an 11-month high.
These sales numbers may have been sparked by some newer entries that are capturing buyer's attention. In particular, Honda's sporty CR-Z racked up 1,419 sales, nearly 200 more than in September. The Lincoln MKZ hybrid also joined the party and tallied a reasonable 366 sales in October, compared to just ten the previous month. All in all, hybrids continue to fare quite well, but outside forces like gas prices often influence a buyer's decision and we know that hybrid sales could tank if pump prices bottom out.