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Fact #377: June 20, 2005
New Vehicle Purchase Preference

A survey conducted May 20, 2005, shows that about half of those who will be buying a new vehicle within the next three years would purchase a hybrid vehicle. The two types of hybrid vehicles are (1) a conventional hybrid vehicle (HEV) and (2) a plug-in hybrid vehicle that you recharge the battery in your own garage (GHEV). The respondents answered the question:

Assuming that prices for regular gasoline decline and remain about $1.50 gallon, for your next new vehicle purchase, would you…

  1. Pay an additional $2,500 to buy a hybrid version of your vehicle that reduced your gasoline use by 30%?
  2. Pay an additional $4,000 to buy a plug-in hybrid version of your vehicle that could reduce your gasoline use by 45% if you traveled about 20 miles per day on its battery only?
  3. Neither
  4. Don't know

Thirty-six percent of respondents who will be buying a new vehicle within the next three years would purchase a conventional hybrid vehicle, and another 15% would purchase a plug-in hybrid.

Graph showing response to question about new vehicle purchase preference if the cost of gasoline stays at $1.50 for the next three years.

Supporting Information

Question: Assuming that prices for regular gasoline decline and remain about $1.50 per gallon, for your next new vehicles purchase, would you….
  Total Respondents Respondents Buying a New Vehicle within Three Years
Pay an additional $2,500 to buy a hybrid version of your vehicle that reduced your gasoline use by 30% 35% 36%
Pay an additional $4,000 to buy a plug-in hybrid version of your vehicle that could reduce your gasoline use by 45% if you traveled about 20 miles per day on its battery only 11% 15%
Neither 49% 43%
Don't know 5% 6%

Source: Opinion Research Corporation International for the National Renewable Energy Laboratory, Study #714209, May 20, 2005, N = 1012.

 

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