Is gas efficiency at the top of everyone’s list when it comes to buying a car? It’s becoming increasingly clear that, at least for automakers, higher fuel economy cars like hybrids and electric cars are priority number one. This is further reflected at the most recent Detroit Auto Show a couple of weeks ago. The new hybrids and electric cars were revealed by the numbers. However, if consumers were more environmentally minded, in other words, the demand for green cars would not match the supply.
Hybrid sales don’t reflect an audience willing to explore alternative gasoline cars just yet. As gasoline prices continue to fall, so do sales of electric and hybrid cars. What are the projections for 2012? Some market and consumer research predicts alternative fuel car sales won’t increase significantly this year either. With gasoline being so cheap, and also one of consumers’ biggest concerns, there seems to be less demand or rush to buy hybrid vehicles. We looked at the sales figures for the Nissan Leaf and also the Chevy Volt, and each fell short of expectations with respect to sales figures.
Another factor is the large up-front costs, with some cars requiring at least $10,000 more than conventional gasoline cars. Low incentive is not driving momentum. But it also doesn’t stop major automakers like Toyota, Honda and Ford from exploring alternative fuel vehicles. In fact, most of the concept vehicles incorporated alternative energy at the Detroit Auto Show. Perhaps this heralds eventual change, but not anytime soon.
In fact, new hybrid and pug-on-electric models were introduced, which is both exciting and risky. However, it does give consumers a snapshot of what lies ahead, and research indicates that sooner or later, we will eventually make that full switch to alternative fuel. The technology is being produced as we speak; for example, Ford’s Eco Boost technology has increased fuel consumption per mile for conventional gasoline cars by about 38 to 40 miles per gallon. Truth be told, that’s not a big enough step, but the technology will improve in the years to come.
There are other challenges automakers face when it comes to producing an economical alternative fuel car. Since internal combustion engines are in desperate need of an affordable and accessible alternative fuel solution, the only plausible solution at this point is electrification. It may not be the least expensive, but it sure shows promise.
Because there is so much speculation and confusion about electric or hybrid cars, we recommend those interested in making the switch to lease or loan an electric car, even for a couple of weeks to see if they like it and if it would fit their personal lifestyle and interests. before buying. Hybrid or electric car loans are a great way to test the waters before committing. With such a high starting price, you’ll be glad you tried it. When electrics and hybrids become the norm, you’ll have a better understanding and idea of what works for you and what doesn’t.