Whether or not it makes economic sense or not, consumers will pay the premium for a hybrid. Clean diesel? Not so much.
We find this study by J.D. Power and Associates just as we return from test-driving the new 2009 Cadillac Escalade Hybrid. (Blog post to follow.)
According to a new study, hybrid-electric powertrain technology in vehicles garners particularly high interest among consumers both before and after the average market price ($5,000) is revealed, according to the J.D. Power and Associates 2008 U.S. Automotive Emerging Technologies StudySM released today.
The study is designed to measure consumer familiarity, interest and purchase intent for emerging automotive technologies both before and after an estimated market value is revealed.
The study finds that before the market price is revealed, 72 percent of consumers say they are “definitely/probably” interested in having hybrid-electric technology in their next new vehicle. This marks a considerable increase from the 2005 study, when 58 percent of consumers reported they were “definitely/probably” interested in the technology. Additionally, after the average price point of $5,000 is revealed, consumer interest remains relatively high at 46 percent in 2008.
“High consumer interest in hybrid-electric powertrain technology may be reflective of not only rising gas prices but also a heightened effort among consumers to be more environmentally conscious,” said Mike Marshall, director of automotive emerging technologies at J.D. Power and Associates. “Clean diesel technology, however, garners relatively low interest in comparison. One explanation for this may derive from a lack of education with the technology. Many consumers cannot differentiate between clean diesel and traditional diesel fuel—which in the past had a negative connotation with unpleasant vehicle emissions. As consumers become more educated in the benefits of clean diesel through increased product offers launching later this year, interest in the technology may increase.”
Prior to revealing the average market price, the study also finds that consumer interest is highest for blind spot detection (76%); backup assist (74%); and navigation systems (73%) before the average market price is revealed. After revealing the average market price, interest is highest in backup assist (68%); active cornering headlight systems (65%); and wireless connectivity systems (53%).
“Wireless connectivity, in particular, makes a considerable jump in the rankings after the average price point of $200 is revealed,” said Marshall. “Consumer interest is likely heightened by the fact that more states may prohibit the use of cell phones while driving. Wireless connectivity will potentially become a necessity rather than a luxury as time goes on.”
1 response so far ↓
1 Green & Clean Mom // Jun 26, 2008 at 3:56 pm
Okay, I can’t wait to read about what you think. I saw a Yukon XL hybrid the other day and it looked nice. I can believe that plenty of people are willing to pay for these. Where I live the rich get richer and the poor get poorer. That’s everywhere though.
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