Tech
Why Are U.S. Drivers No Longer Interested in Prius?
Pauline Angela Quiambao
First Posted: Sep 12, 2016 06:01 AM EDT
Toyota has reported that Prius sales are down 26 percent in the U.S. in 2016. Prius represents the majority of the cars in the hybrid market and the sudden decline in interest definitely affects all highly fuel-efficient automobiles. According to George Hoffer of the University of Richmond, "The Prius, from Day 1, has really been the bellwether for the efficient vehicle movement."
Experts said that there are some factors that contribute to a decline in interest and lower gas prices in the past few months is just one common factor. As per a report, senior analyst Michelle Krebs of AutoTrader said, "Everybody says it's cheap gas." But she believes that doesn't sum up the whole equation.
Krebs said that enormous numbers of consumers now prefer sports utility vehicles over cars. The reason for this is more young adults are starting their families and need plenty of room for car seats. Furthermore, bigger vehicles are nicer on children's knees as they enter and exit the vehicle. Hoffer said that the sudden change in vehicle preference could be temporary but manufacturers decision basing on this temporary trend could damage their company.
"We've become a 60 percent truck market and 40 percent car market, and I think that is potentially dangerous," said Hoffer. "Potentially dangerous because so much of this is driven by two things which may not last very long."
Experts say that sales of small vehicles are likely to go high again once gas prices spike but the effect could be limited due to the development of better fuel efficiency. AutoHarvest Chairman of the Board David Cole said that the value of improved fuel economy gets smaller as the levels of fuel economy gets higher.
Toyota already released an announcement said that the company is firm on not making any decision based on present fuel prices. Aaron Fowles, Toyota spokesman said that they always decide based on long-term product designs. He reported that Toyota's hybrid vehicles are still strongest comprising 70 percent of the market.
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First Posted: Sep 12, 2016 06:01 AM EDT
Toyota has reported that Prius sales are down 26 percent in the U.S. in 2016. Prius represents the majority of the cars in the hybrid market and the sudden decline in interest definitely affects all highly fuel-efficient automobiles. According to George Hoffer of the University of Richmond, "The Prius, from Day 1, has really been the bellwether for the efficient vehicle movement."
Experts said that there are some factors that contribute to a decline in interest and lower gas prices in the past few months is just one common factor. As per a report, senior analyst Michelle Krebs of AutoTrader said, "Everybody says it's cheap gas." But she believes that doesn't sum up the whole equation.
Krebs said that enormous numbers of consumers now prefer sports utility vehicles over cars. The reason for this is more young adults are starting their families and need plenty of room for car seats. Furthermore, bigger vehicles are nicer on children's knees as they enter and exit the vehicle. Hoffer said that the sudden change in vehicle preference could be temporary but manufacturers decision basing on this temporary trend could damage their company.
"We've become a 60 percent truck market and 40 percent car market, and I think that is potentially dangerous," said Hoffer. "Potentially dangerous because so much of this is driven by two things which may not last very long."
Experts say that sales of small vehicles are likely to go high again once gas prices spike but the effect could be limited due to the development of better fuel efficiency. AutoHarvest Chairman of the Board David Cole said that the value of improved fuel economy gets smaller as the levels of fuel economy gets higher.
Toyota already released an announcement said that the company is firm on not making any decision based on present fuel prices. Aaron Fowles, Toyota spokesman said that they always decide based on long-term product designs. He reported that Toyota's hybrid vehicles are still strongest comprising 70 percent of the market.
See Now: NASA's Juno Spacecraft's Rendezvous With Jupiter's Mammoth Cyclone