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Wednesday, October 11, 2006

Lower gas prices reducing consumer interest in Prius?

Lower gas prices reducing consumer interest in Prius?

According to Cars.com there has been less consumer interest in the Toyota Prius hybrid since gas prices started dropping. According to Cars.com consumer searches for the Prius have dropped by 37.8%. Cars.com claims this is part of a general drop in consumer interest for fuel efficient vehicles, whereas interest in gas guzzlers has increased.

I've long claimed that consumer interest in hybrid cars would be affected by gas prices. Still, gas prices, almost assuredly, will go back up and so too will interest in hybrids. Still, part of this drop in fuel efficient interest, especially for the Prius, might also have had something to do with reduced tax credits for Toyota hybrid vehicles.

Nonetheless, let's face it, the problems associated with foreign oil dependency, and oil dependence in general, aren't ever going away. Those whom choose to ignore this fact will pay the consequences. Hybrids might not make perfect sense today for everyone, but they will in a few years.

Plus, maybe a downturn in interest will create a buyers market for those interested in the Prius, especially a used Prius.

(Source: Car & Driver)

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