Electric-Drive Vehicles Sales Jump 49% in the First Quarter
8:20a ET April 11, 2012 (Market Wire)
Rising gas prices and an improving economy have led to an impressive surge for hybrid and electric car sales. With no immediate solution for rising gas prices Americans have been protecting their pockets by switching over to hybrid and electric cars. The increase in demand has provided a great boost for companies in the Alternative Auto Parts Industry. Five Star Equities examines the outlook for companies in the Alternative Auto Parts Industry and provides equity research on Fuel Systems Solutions, Inc. (NASDAQ: FSYS) and Quantum Fuel Systems Technologies (NASDAQ: QTWW).
Access to the full company reports can be found at:
www.FiveStarEquities.com/FSYS www.FiveStarEquities.com/QTWW
According to a recent Bloomberg report, electric-drive vehicles, including hybrids, plug-in models and pure battery-powered cars, were the fastest-growing segment in the U.S. auto market. First quarter sales jumped 49 percent to 117,182 vehicles from 78,527 a year prior.
"There are a lot of concerns today that the electric car is going to solve," Nissan Motor Co. Chief Executive Officer Carlos Ghosn said in a recent interview at the New York auto show. "People don't want to have to go to the gasoline station. They just want to fill their tank at home. They want to make sure they're not paying too much money for their gasoline bill every month."
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Fuel Systems Solutions, Inc. reported results for its fourth quarter and year ended December 31, 2011. Mariano Costamagna, Fuel Systems' CEO, said, "Fuel Systems' fourth quarter revenue grew 34% to $111 million from the prior year with our BRC and IMPCO businesses growing 36% and 27%, respectively, enabling us to exceed our revenue outlook for 2011. |
