Edmunds Inside Line reports, "U.S. consumers are showing a high interest in hybrid-electric vehicles despite their often-prohibitive price premium, according to the J.D. Power and Associates 2008 U.S. Automotive Emerging Technologies Study." The study "found that before the market price of a hybrid vehicle is revealed, 72 percent of consumers say they are "definitely/probably" interested in having the technology in their next new vehicle. This marks a jump from the 2005 study, when 58 percent of consumers said they were interested in the technology. After the average price premium of $5,000 is revealed, consumer interest remains relatively high in the fuel misers at 46 percent in 2008, the company noted."
Motor Trend explains that, despite the drop in interest once the price is revealed, "J.D. Power still considers the desire for hybrids to be relatively high, and according to director of automotive emerging technologies Mike Marshall this "may be reflective of not only rising gas prices but also a heightened effort among consumers to be more environmentally conscious." That said, everyday drivers struggling with a daily commute will most likely do the math before jumping on the gas-electric bandwagon."
In fact, according to a "A new study by Edmunds.com…indicates that many compact and subcompact vehicles are actually better choices than hybrids for consumers looking to save money," according to an Edmunds press release. "The data also suggests that only one hybrid, the Honda Civic Hybrid, would break into the top ten least expensive vehicles if gas prices were to increase to $5 per gallon." Cars Edmunds considers to be among the lease expensive vehicles to own include the Chevy Aveo, Hyundai Accent, and Toyota Corolla and Yaris.
Research the most fuel-efficient small cars and hybrids with U.S. News' car rankings and reviews
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