Sales of Hybrid Cars Plummet As Gas Prices Drop and Economy Founders

Sales of hybrid cars in the U.S. — which just 9 months ago soared as a result of high gasoline prices — have fallen off sharply, leaving Toyota, Honda, and other makers of hybrid vehicles with large numbers of unsold cars, the Los Angeles Times reports. Last month, only 15,144 hybrids were sold in the U.S., a drop of roughly two-thirds from last April, when gasoline was at $3.57 a gallon and hybrid sales peaked. Last July, consumers were forced to wait to buy the country’s most popular hybrid car, the Toyota Prius, but now Toyota has enough Priuses in stock to last 80 days. Reacting to pressure from the Obama administration and Congress to manufacture fuel-efficient vehicles, U.S. and foreign car makers are planning to roll out numerous new hybrid models in the next few years. But lulled by low gas prices and unwilling to pay a premium for hybrids, consumers are spurning the vehicles. “The price of gasoline dictates what people buy,” said Mike Jackson, chief executive of AutoNation, the country’s largest chain of new-car dealers. “Gas fell to $2, and now my lots are filled up with fuel-efficient cars that aren’t moving.”