In the popular imagination oil is running out, and gas will increase in price forever. However they buying public is not acting that way. Hybrid sales were down 30% from last year. All electric cars were down 40%, and the GM Volt was down 60%, probably on news on battery fires on improperly discharged batteries.
I actually have two hybrid vehicles, and I think they are a better way to build a car, but they cost too much, and probably still have not paid me back -- unless you count their higher resale value.
|Toyota is the giant of hybrid manufacturing. (Source)|
I believe the poor economy is making people buy cheaper cars, and that cheaper cars cost more to run over the long haul. Of coarse, $4.50/gal gas may be coming. It seems that every time the economy hints that it might be getting stronger oil speculators run the price of oil up by $5/barrel.