Chrysler debuted its first hybrids, the hybrid versions of the Dodge Durango and Chrysler Aspen SUVs, earlier this month. But now, amid the decline in fuel prices and poor sales of its largest sport-utility vehicle, the company has been forced to drop its only gasoline-electric model, Bloomberg reports.
Chrysler will shut the plant producing the hybrids by Dec. 31. The company’s decision leaves it without plans for any new hybrid models for at least a year.
Jim Hall, principal at 2953 Analytics in Birmingham, Michigan, told Bloomberg that “this vehicle would have done a lot better three or four years ago,” when demand for SUVs was greater.
Jim Press, Chrysler’s president and vice chairman recently pushed hard for $25 billion in government loans, which he said would help automakers accelerate the commercialization of electric cars.