Hybrid cars

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1. Introduction:

The introduction of the project should consist of an overview characterizing the product that you have selected. You should attempt to describe the overall size of the market, the growth of the product, recent product innovations within the market, various sub segments of the market as well as other information that characterizes the product you have chose to evaluate.

For the purpose of this assignment, I will chose hybrid automobiles (hybrid cars and SUV's like Toyota Prius) that run on gasoline as well as alternative fuel, ie, Electricity. The rising fuel prices and increasing air pollution along with depleting resources of fossil fuels is forcing more and more automobile companies to manufacture hybrid vehicles. Moreover, people are increasingly buying these environment friendly and cost effective hybrid vehicles in many countries around the world.

My new product that will compete with these existing products will be a hybrid vehicle that will not only be much more efficient in terms of mileage, but will also cost less than its costly counterparts. In other words, I will make hybrid vehicles more affordable, so as to appeal to all types of consumers.

A hybrid car might be defined as any vehicle that uses two or more sources of energy to propel itself.They combine the best features of the internal combustion engine with an electric motor and can significantly improve fuel economy without sacrificing performance or driving range

Hybrid-electric vehicles (HEV) combine the benefits of gasoline engines and electric motors to provide improved fuel economy.The engine provides most of the vehicle's power, and the electric motor provides additional power when needed, such as for accelerating and passing. This allows a smaller, more-efficient engine to be used. The electric power for the motor is generated from regenerative braking and from the gasoline engine, so the current hybrids on the market don't have to be "plugged in" to an electrical outlet to recharge.

The Hybrid Car Market

The hybrid car market is slowly growing lead primarily by the US and Japanese Markets is growing steadily. In the past five years the number of hybrid sales numbers in the US grew tenfold from 9,500 in 2000 to 100,000 in 2004. By the end of 2005, the number of hybrid cars on American roads grew to 212,000, accounting for 1.3 percent of the total U.S. light-vehicle market. Researchers are divided as to the long-term growth potential of the hybrid car market. Researchers J.D. Power estimate the hybrid car market will account for 3.5% of the US market by 2010. Other researchers give more optimistic projection for the market, ABI Research & Automotive Technology Research Group; see the hybrid market penetration at between 5-6% of the overall US light-vehicle market.

source: http://www.hybridcar.com/information-center/hybrid-car-overview/hybrid-car-overview-3.html

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