The people most interested in hybrids generally have the lowest income when considering the premium vehicle.
Almost 60% of new car owners say they want a conventional combustion engine in their next vehicle. Nevertheless, one-third of car owners (32%) report they have an interest in purchasing a hybrid vehicle, and 23% say that their interest in hybrids has increased from a year ago. However, the latest Harris Poll shows that the “adoption curve” for hybrid vehicles wanes with age.
While nearly one-third (32%) of those under 35 years of age are more interested in alternative vehicle choices than they were a year ago, compared to only 15% of those over the age of 67. In fact, 11% of those 67 and older report that they are less interested compared to one year ago in spite of the improved fuel economy that hybrids provide.
With all automakers introducing hybrids, these results present a marketing challenge. The people who can least afford to pay the $3,000 or so premium that hybrids command, are the least likely to have the income needed.
The data might also explain why the fast start – March 2012 intro – of the $20,000 to $25,000 Toyota Prius C, the least expensive hybrid in the market, which sold more than 3,000 units in July or 18% of total Prius sales of 16,643. Year to date, the Prius C, which is expensive when compared to a subcompact car, sold more than 19,000 units out of total Prius sales of more than 143,000.
Harris says that among the alternative fuel choices for new automobile purchases, hybrid (gas/electric) vehicles lead with more than a quarter (26%) of car owners saying they will consider this type of alternative fuel vehicle for their next purchase.
Other alternative fuels are much further down the list (as they are in sales), as just one in ten say they would consider a diesel (11%) or all electric (9%) automobiles for their next purchase. Almost two-thirds (63%) report that they, in fact, are not likely to consider diesel or all electric options at all for their next car purchase.
