The automakers might start ramping up hybrid production, but it doesn't mean that drivers will buy them.
"The problem is, in the short-term, if gas prices stay low, there won't be any demand for these vehicles," said Ron Harbour, an auto industry analyst with consulting firm Oliver Wyman.
Harbour said that larger Americans, in particular, may be turned off by smaller cars, even if they are fuel-efficient.
"I'm 6 foot 3. There's not much motivation for me to buy a small Ford Fiesta if gas is a $1.69 a gallon," he said.
Historically, large vehicles have been the most profitable. Meanwhile, fuel-efficient vehicles rely on expensive technologies and are, therefore, less profitable for automakers.
"The government wants all the automakers to move in the direction of smaller, more fuel-efficient vehicles … [but] they're very cars that make the least amount of money," Harbour said.
But Gregg Lemos-Stein, a credit analyst at S&P who covers the automobile industry, said that for some there is an appeal to the hybrid that goes beyond price.
"There's also the good feeling you get for being more attentive to the environment," Lemos-Stein said. "It's kind of like a badge of pride that you are doing the right thing and burning less gas."
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