The demand for hybrid vehicles has not diminished even though gas prices have fallen. Most consumers realize that gas prices are still 30 to 40 cents above last year's prices and that they will likely spike up again before next year's summer driving season. Oil is also still high at $61 a barrel. A TriCities.com article cites a study that finds hybrid demand increasing.
According to a recent study by CNW Marketing Research of Bandon, Ore., 32 percent of American new-car buyers say they would "seriously consider" a hybrid if gas prices reached $3.75 a gallon. That’s up from 19 percent in 2002.
The article mentions a tax credit coming next year that may get even more people interested in hybrids.
Hybrid prices range from the two-seat Honda hatchback Insight at about $20,000 to the luxurious Lexus sport utility vehicle, the RX 400h, which starts at $49,060.
Starting Jan. 1, federal tax credits will range from $1,700 to $3,000 depending on how much fuel a car saves, which may help some consumers.
The article also brings up the expensive batteries for a hybrid's electric engine which can cost over $2,000 to replace. However, these batteries tend to last a long time. The article cites a Honda dealer that said "the brand's hybrids have a warranty on the engine battery that guarantees eight years or 100,000 miles." The article also some Honda Insight models have driven over 200,000 miles without replacing the battery for the electric engine.
