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The market share of hybrid cars seems to react very sensitive to gasoline prices. The correlation is much higher than expected. In comparison to that, the effect of incentivizing policies seems rather small.

The chance of a significant effect gets higher if the incentive gets paid right at the time of the purchase. Consumers tend to depreciate future tax credits and subsidies. But: If there is a reduction of the purchasing price, chances are high that the car dealer just adjusts his price and the policy ends up being a subsidy for the dealer instead of for the consumer. 

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References

D. Diamond, “The impact of government incentives for hybrid-electric vehicles: Evidence from US states,” Energy Policy, vol. 37, no. 3, pp. 972–983, Mar. 2009.

Music

Digital Future Technology [audiojungle]