A new study suggests that by the year 2020 all new cars will be hybrids. Can there be such a wholesale shift in the automotive ecosystem in just 12 years? According to IBM’s Institute for Business Values, the car industry “is in the midst of significant change, with increasing challenges in consumer demands, technology development, globalization, integration and collaboration,” and, to survive, car-makers must consider environmental responsibility and fuel efficiency as increasingly vital components of consumer interest.
It’s been a rough year for the car business. Americans will buy fewer cars this year than any year since the early 1990s. US automakers in particular are sputtering. When Ford announced its second quarter financial results, they turned out to be the worst-ever recorded by the company, an $8.7 billion loss. But of the few success stories in the car industry in recent years, the hybrid is chief among them. more…
