July 12, 2005
American buyers not yet sold on hybrids
Southfield, Michigan – Results from a forthcoming study to be released by the Polk Center for Automotive Studies indicates that while American consumers are aware of and are considering hybrid vehicles, they may not yet be sold on them, due to additional costs associated with the technology.
The study shows that 97 per cent of people surveyed had heard of a hybrid vehicle, and 78 per cent said they would consider buying one. However, 61 per cent of those who have never owned a hybrid vehicle indicated that the purchase price could be a deterrent, and nearly 30 per cent believed benefits received would not justify the extra investment.
Polk’s study also found that nearly two-thirds of participants did not think hybrid vehicles are a fad. When asked to identify which manufacturers people believed currently sell a hybrid car or truck in the U.S., Honda received almost 58 per cent recognition, with Toyota receiving 46 per cent and Ford with 27 per cent. There were a total of 307 participants, age 21 and older from across the U.S.