(Source: Financial Times)

Despite the US government’s determination to increase efficiency standards and become energy independent, hybrid cars sales in the US are falling at a ‘breakneck pace’ – even faster than overall car sales, reports the LA Times:

Last month, only 15,144 hybrids sold nationwide, down almost two-thirds from April, when the segment’s sales peaked and gas averaged $3.57 a gallon. That’s far larger than the drop in industry sales for the period and scarcely a better showing than January, when hybrid sales were at their lowest since early 2005.

In July, U.S. Toyota dealers didn’t have enough Prius models in stock to last two days, and many were charging thousands of dollars above sticker price for the few they had.

Today there are about 80 days’ worth on hand, and dealers are working much harder — even with the help of $500 factory rebates — to move the egg-shaped gas-savers off lots from Santa Monica to Miami.

The gist of the story is even though hybrids are more expensive and therefore less attractive to consumers in these recession-bound times, car makers are compelled by government regulations to continue developing them. Hybrid cars are not particularly profitable for the industry either; Toyota only recently began to turn a profit on its Prius.

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