U.S. hybrid registrations rose 38% to top 350,000 in 2007

Sales of hybrid vehicles continued to buck the overall trend of sinking car and truck sales in 2007, according to the latest data from research firm R.L. Polk. Polk does an annual survey of new vehicle registrations and their 2008 numbers look very good for Toyota. While overall sales dropped three percent from 2006 to 2007, registrations of new hybrids jumped 38 percent. For the year, hybrid vehicles comprised 2.2 percent of the total market with 350,289 units registered. Even with several new hybrid models now on the market, the Toyota Prius remains the dominant single model with 51 percent of the segment compared to 43 percent in 2006. If GM can manage to light a fire under sales of their hybrid models this year, the segment could grow significantly again this year as gas prices approach and top $4 a gallon in the U.S.

[Source: Detroit News]