A Tsunami of Hybrid Demand | Green Energy News

August 1, 2004 – Vol.9 No.19

A TSUNAMI OF HYBRID DEMAND.

If gasoline prices approach $3 per gallon in the U.S. in the next year or so (which is possible) expect a wave of demand for hybrids. That is a conclusion of a new survey by ChangeWave Research.

Right now 24 percent of the 1005 respondents – all considered early adopters by ChangeWave – were seriously considering a hybrid vehicle as their next vehicle purchase. Of those surveyed 59 percent also said they will be more sensitive to fuel economy with their next purchase because of the high cost of fuel .

Early adopters, by the way, are those that are quick to jump onto new technologies and willing to buy those products at their technical infancy, and at higher prices, just to take advantage of the attributes those technologies offer. But, early adopters are only a portion of all consumers. There are late adopters too.

Still, among respondents considering buying hybrids they will do so 13 - 24 months from now – meaning the beginning of the 2006 model year, the fall of 2005.

Right now, according to the survey, the hybrid grabbing the most attention is the second-generation Prius (45 percent) with two as-yet-unreleased models, the Honda Accord Hybrid (35 percent) and the Toyota Highlander Hybrid SUV (27 percent) following.

The demand for SUVs, though waning at this point, is expected rebound with hybrid SUVs coming into the market the survey shows.

So if the survey results can be believed, and oil prices creep ever-upward, automakers better be ready for a tsunami of demand for hybrid electric vehicles. For the complete report visit http://www.changewave.com/hybrid/.