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Archive for Monday, April 16, 2012

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Many hybrid-car owners buy once, but not again

April 16, 2012

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While the choice of fuel-efficient hybrid vehicles for sale in the U.S. continues to grow, more buyers than not are deciding against the technology when they go to buy another car.

Only 35 percent of hybrid vehicle owners chose to purchase a hybrid again when they returned to the market in 2011, according to auto information company R.L. Polk & Co.

If you factor out the super-loyal Toyota Prius buyers, the repurchase rate drops to under 25 percent.

Consumers in regions such as Southern California and Seattle, where hybrid sales are strongest, are no more likely to be repeat customers than buyers in other parts of the nation, according to the Polk study.

It’s hard to know what’s causing the low repurchase rate. One reason is that about 17,000 people purchased electric cars last year, and other data shows that many of those were trading in a hybrid vehicle. Honda has been hounded by high-profile class-action and small claims court lawsuits over fuel economy issues with older models of its Civic hybrid.

Online cross-shopping data from auto information company Edmunds.com shows that buyers typically compare hybrids with similar conventionally powered vehicles. For example, the conventional Honda Civic is the second most cross-shopped car by people who also are looking at the Toyota Prius and Honda Insight hybrid models.

“The lineup of alternate-drive vehicles and their premium price points just aren’t appealing enough to consumers to give the segment the momentum it once anticipated, especially given the growing strength of fuel economy among compact and midsize competitors,” said Lacey Plache, Edmunds.com chief economist.

Hybrid vehicles represent just 2.4 percent of the overall new vehicle market in the U.S., according to Polk, down from a high of 2.9 percent in 2008.

Comments

grammaddy 2 years, 5 months ago

Everybody can't own a Prius. But they should.

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RoeDapple 2 years, 5 months ago

Ray Molton, Houston, drove his Prius 113,000 miles before battery replacement became necessary. Estimates ranged from $7,000 to $9,000 to replace the batteries from two dealerships, with both recommending he just scrap the car.

(from a source)

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