A new report from Green Car Reports argues that if oil prices were to rise to $150 by 2020, a new era of automobile electrification is likely to follow. Oil prices currently sit around $70/barrel, and if they more than double to the $150 predicted by Bernstein Research, it is likely consumer demand would drive automakers to augment their electrified…
Edmunds.com reports that smart car shoppers still want higher-mileage vehicles despite low gas prices, according to a new national survey by the Consumer Federation of America. The survey found that consumers expect the national gasoline price to rise by almost 50 percent in the next two years. And they have incorporated this expectation into their next vehicle purchase. “More than 86 percent say…
Gas prices are falling. So, too, is the cost of many hybrid cars. “Fuel savings are not top of mind to many consumers right now, and that makes this a great time to buy a hybrid or electric vehicle,” said John Krafcik, president of TrueCar. “With gasoline prices now averaging just $2.10 per gallon, and vehicle preferences tied so closely…
A new study from J.D. Power found that fuel economy remains the most influential factor among a majority of car shoppers. “Consumers know that, although gas prices are low today, the cost of fuel will likely increase during the time they own their vehicle,” said Arianne Walker, senior director, automotive media & marketing at J.D. Power. “Clearly, consumers are considering…
Despite the recent plunge in gas prices, fuel economy remains the key factor most motorists consider when buying a new vehicle, according to a new survey by J.D. Power and Associates. According to the 2015 study, 14% of shoppers ranked mileage as number one on the list of why they bought a particular vehicle, while 16% said they rejected a vehicle because of…
A CNBC column by Phil LeBeau says that while gas prices are falling, production plans for hybrid and electric vehicles is stronger than ever. He lists three reasons why automakers are ramping up their investments in green vehicles: (1) Gas prices will eventually rebound; (2) CAFÉ standards; and (3) Emission, clean air standards. LeBeau notes that regardless of what happens with gas prices, U.S.…
MyPerfectAutomobile.com reports that automakers are dropping the cost of hybrid cars. The reason: a combination of lower gas prices, expiring tax credits and increased competition from more fuel efficient gas cars is putting added pressure on hybrid manufacturers. Read more.
The average U.S. household spent more than $2,600 on gas in 2013 — an all-time high. The report, released by Securing America’s Future Energy, notes that fuel prices have the greatest impact on lower-income households, which spent nearly 13 percent of their income on gas. Read more.
The Associated Press reports that gasoline prices are “swinging up and down ever more drastically, a result of a national fuel system that is operating with a shrinking margin for error.” It’s not uncommon for gasoline prices to jump 20 cents per gallon or more in a single day, the AP reports. Click here to read the reason behind the…