A recent report by Experian shows that not only is the hybrid movement catching on but it also is appealing to some very interesting market segments.
According to the Experian study, released as part of Earth Day, the market share of hybrid and electric vehicles has increased by nearly 41 percent since 2011, going from 2.2 percent to 3.1 percent in 2012.
Those are hardly earth-shattering numbers when you consider that overall, hybrids only make up only about 1 percent of all total vehicle sales. But it’s definitely a sign that the green car movement is growing.
The research indicates that male to female ratio for hybrid and EV sales is almost split down the middle with the percentage of adults who live in a hybrid vehicle household being 53 percent women and 47 percent men.
In addition, the study showed that 25 – 34 years olds are 26 percent more likely than average to live in a household that owns or leases a hybrid vehicle, which indicates the potential for further growth as a younger consumer base becomes more accustomed to greener vehicles.
The Experian report also indicated that the average credit score for those buying hybrids was 790, compared to 755 for the average new auto loans.
Among the top ten new hybrid vehicles financed in 2012, Toyota was the most popular with four vehicles on the list including the Prius, Camry, Prius V and the Prius C.
The other top six new hybrids financed include the Chevrolet Volt, Hyundai Sonata, Lexus CT 200h, Kia Optima, Nissan Leaf and Lexus RX 450h.
