Experian Automotive: Hybrid vehicle market share grew by 41 percent in 2012
Hybrid buyers also have higher credit scores than those purchasing a nonhybrid
SCHAUMBURG, Ill., April 22, 2013
SCHAUMBURG, Ill., April 22, 2013 /PRNewswire/ --Experian Automotive today
released findings from an analysis of the hybrid* vehicle segment in honor of
Earth Day. The analysis showed that market share of hybrid vehicles has
increased by 40.9 percent since 2011, going from 2.2 percent in 2011 to 3.1
percent in 2012. While hybrid vehicles still only make up slightly more than 1
percent of the total vehicles in operation, the segment has witnessed steady
market share growth over the past several quarters.
As part of the analysis, Experian Automotive also reviewed some of the
financial attributes of hybrid vehicle loans. The study found that overall,
consumers purchasing a hybrid have significantly higher credit scores than
those purchasing another type of new vehicle. The average credit score for a
loan on a new hybrid was 790 compared with the national average credit score
of 755 for a loan on any new vehicle.
"Hybrid vehicle owners have long been perceived as environmentally conscience
consumers," said Melinda Zabritski, Experian's director of automotive credit.
"While they may have made the vehicle purchase due to caring for the
environment, our research shows that hybrid owners are economically minded as
well. Hybrid owners tend to have outstanding credit histories, which also has
enabled them to obtain financing at lower rates than typical consumers."
INFOGRAPHIC: Snapshot of a typical hybrid owner
The study also showed that the average amount financed on a hybrid vehicle was
$25,807 and the average monthly payment was $461. Additionally, the average
interest rate for a new hybrid vehicle loan was 3.51 percent.
Average Hybrid vehicle loan Average new auto loan
Amount financed $25,807 $26,691
Monthly payment $461 $460
Interest rate 3.51% 4.36%
Credit score 790 755
Loan term 61 months 65 months
*For this analysis, hybrid vehicles were defined by the following
classifications: Alt Power — Electric Car; Alt Power — Hybrid Car; Alt Power —
Other findings on hybrid vehicle financing:
oIn 2012, 3.1 percent of all vehicles financed were hybrids, up from 2.3
percent in 2009 and 1.5 percent in 2006
oThe lease/loan ratio in 2012 for hybrid vehicles was 21.4 percent lease
and 78.6 percent loan
Top 10 financed new hybrid vehicles Percentage share of hybrid market
1. Toyota Prius 37.2%
2. Toyota Camry 8.9%
3. Toyota Prius V 8.6%
4. Toyota Prius C 8.1%
5. Chevrolet Volt 6.3%
6. Hyundai Sonata 4.8%
7. Lexus CT 200h 4.2%
8.Kia Optima 2.7%
9. Nissan Leaf 2.7%
10. Lexus RX 450h 2.3%
For more information on this or other Experian Automotive industry analysis,
please visit http://www.ExperianAutomotive.com.
About Experian Automotive
Experian Automotive provides information services and market intelligence that
enables results-driven professionals to gain the fullest possible
understanding of the market, the vehicles and the people who buy them. Its
North American Vehicle Database^SM houses data on nearly 700 million vehicles
and, when combined with Experian's credit, consumer and business information,
provides an integrated perspective into the automotive marketplace. Experian
Automotive's AutoCheck^® vehicle history reports provide dealers and consumers
with in-depth information, allowing them to confidently understand, compare
and select the right vehicles. For more information on Experian Automotive and
its suite of services, visit our Website at
Experian^® is the leading global information services company, providing data
and analytical tools to clients around the world. The Group helps businesses
to manage credit risk, prevent fraud, target marketing offers and automate
decision making. Experian also helps individuals to check their credit report
and credit score, and protect against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a
constituent of the FTSE 100 index. Total revenue for the year ended 31 March
2012 was US$4.5 billion. Experian employs approximately 17,000 people in 44
countries and has its corporate headquarters in Dublin, Ireland, with
operational headquarters in Nottingham, UK; California, US; and São Paulo,
For more information, visit http://www.experianplc.com.
Experian and the Experian marks used herein are service marks or registered
trademarks of Experian Information Solutions, Inc. Other product and company
names mentioned herein are the property of their respective owners.
Experian Public Relations
1 714 830 5578
SOURCE Experian Automotive
Press spacebar to pause and continue. Press esc to stop.