Wednesday, April 22, 2015

Happy Earth Day! Drivers Ditching Hybrids and Electric Vehicles for SUVs

And it's not just about cheaper gas prices these days. Hybrids and EVs just aren't "equal" after all.

At USA Today, "Earth Day, bah! Hybrid, EV owners shift to SUVs":
Owners of gas-electric hybrids and battery electric vehicles are less and less likely to trade for another one, according to data from auto buying and research site Edmunds.com. Even more surprising: they are increasingly likely to shift to SUVs.

The disenchantment with clean-air fuel savers appears to be the result mainly of relatively low fuel prices, though there also seems to be a decline in their being seen as "special."

"For better or worse, it looks like many hybrid and EV owners are driven more by financial motives rather than a responsibility to the environment," says Edmunds.com Director of Industry Analysis Jessica Caldwell. "Three years ago, when gas was at near-record highs, it was a lot easier to rationalize the price premiums on alternative fuel vehicles. But with today's gas prices as low as they are, the math just doesn't make a very compelling case."

It's a blow to the sentiment of Earth Day today, the 45th annual fete for the planet.

And it's bad news for automakers, who need to sell more and more alternative-power vehicles to meet tightening federal fuel-economy rules.

To avoid a backlog, General Motors recently cut the prices of its Spark EV and Cadillac ELR extended-range electric and temporarily halted production of its Chevrolet Volt plug-in car.

Sales of the Nissan Leaf, the best -selling EV in the U.S., are down 27.2% the first quarter this year in a new-vehicle market up 5.6%, says Autodata.

Toyota's Prius gas-electric hybrid is down 7.7%; the plug-in version, fell 61.4%, Autodata says.

Overall, only 45% of this year's hybrid and EV trade-ins have involved the purchase of another alternative-power vehicle, Edmunds data show. That's down from slightly more than 60% in 2012 and is the first time the rate has fallen below 50%...

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