Hybrids are hot. As the price of gasoline goes up, so does the demand for new vehicles that can squeeze more miles per gallon from every drop of gasoline. Hybrids do that by combining the best of both worlds: electric power for low-speed, stop-and-go driving, and gasoline power for highway cruising and long-range driving.

Current models include the Toyota Prius, plus hybrid versions of the Toyota Highlander and Camry, Lexus RX 400H and GS 450H, Honda Insight, Civic and Accord, and Nissan Altima. Other new import hybrid models that are coming soon include a hybrid version of the Honda Fit, Kia Rio and a yet-to-be named Hyundai model in 2009. The European automakers have lagged behind their Asian counterparts in hybrid development, but Volkswagen says it will offer a hybrid Jetta in 2009.

Volvo is developing a diesel-hybrid version of its C30 compact model, and BMW will reportedly have a hybrid version of its 7-Series soon. Hybrid fever among the domestic automakers is also gathering momentum, with hybrid versions of the Ford Escape, Mercury Mariner, Saturn Aura and Saturn Vue Green Line, and soon-to-come full-size hybrid SUVs from GMC and Chevrolet. Chrysler is also working with BMW on a common hybrid drivetrain that will be used in a number of future models.

Though the number of hybrid vehicles currently on the road is still quite small, some industry analysts predict that within five years 20 to 25% of all new car and...