DETROIT – A global survey of auto executives indicates they expect hybrid sales to increase as a result of concerns about high gas prices, according to the Associated Press. Almost nine out of 10 executives said they think gas-electric hybrids will gain market share, and nearly four out of five said sales of low-cost cars will increase. The survey, conducted by auditing and consulting firm KPMG, included responses from 140 senior auto industry executives.

Highlights of the survey, according to the Associated Press, include:

  • More than half of the Asian and European executives predict growth for SUVs, compared with just six percent of North American car executives.
  • The survey predicts continuing market share declines for GM and other North American automakers. More than three-quarters of executives predicted South Korean and Chinese brands will see the largest global share increases in the next five years, with Japanese and Indian brands behind.
  • North American execs are also the least optimistic about luxury growth, while the Asians are the only ones to predict much growth in the pickup segment.
  • Originally posted on Fleet Financials