Obama Miscalculation #6921...Betting on Hybrid Vehicles

NEW YORK (CNNMoney) -- For all the excitement generated by every new hybrid car introduction, there is one little problem. In case you haven't noticed, hardly anyone is buying them.
The market share for hybrid cars peaked in 2009 at 2.8% of all new vehicles sold. The year after that, it fell to 2.4% and it's on track to be a little less than that this year, according to data from Edmunds.com.
That's despite the fact that the number of hybrid models on the market has increased each year. In 2009, there were 17. At the start of 2011, there were 30. That's more choices, but fewer takers.
And, year after year, half of that market share goes to one car: the Toyota (TM) Prius. Every other hybrid car, SUV and truck on the market put together account for a little over 1% of the new car market.
"Take the Prius out of the equation and hybrids would be a niche market," said Bill Visnic, an analyst with the automotive Web site Edmunds.com.