Economic Over Environmental Concerns Key Factor in Consumer Decisions
Irvine, CA – September 7, 2010— Environmental responsibility versus economic stability. In the case of new car purchases, Autobytel’s most recent What’s Hot Now report released today reveals that consumers are concerned with both and believe they can find it in the purchase of a green car. In the wake of the Gulf Oil spill and concerns about the environment and the economy, consumers are interested in vehicles that can contribute to a greener earth as well as lessen the impact on their pocketbook.
57% of those surveyed revealed an interest in purchasing an alternative fuel vehicle in the next 12-months. Although economics was a leading factor in the purchase of an alternative fuel vehicle with over 50% reporting ‘Economics, better gas mileage’ as the reason for purchasing a green car, being ‘environmentally responsible’ and ‘reducing dependence on foreign oil’ combined was the reason cited by 39% of the respondents.
The report reveals strong green vehicle purchasing trends – and more susceptibility to environmental concerns – in the next generation of car buyers: one out of four under 25 years of age report they are definitely considering purchasing an alternative fuel or high MPG vehicle in the next twelve months – and over half said that environmental factors impacted their likelihood to buy a green vehicle.
“Consumers are interested in being fiscally and environmentally responsible when considering their next vehicle purchase,” said Jeff Coats , president and CEO, Autobytel. “Our latest What’s Hot Now report reveals good news for the makers of alternative energy and high mpg vehicles.”
Autobytel’s What’s Hot Now in Green snapshot survey was conducted on Autobytel’s network of consumer automotive sites, including autobytel.com, in July 2010. Over 2,000 consumers responded to the survey. Key results of the study reveal (see charts and highlights below):
· Green Potential High in Next 12 Months
· Stronger Still in 2-5 Years
· Economy Impacts Buying Choices
· Gas pump prices affect likelihood to purchase an alternative fuel vehicle.
· Under 25s: Generation Green
· Hybrid still Tops
Autobytel’s What’s Hot Now Key Results
Green Potential High in Next 12 Months
— 57% are likely to consider purchasing a green (electric, hybrid, high mpg) vehicle in the next twelve months with 9% "definitely" considering, 17% "seriously" considering and 31% saying "maybe."
Stronger Still in Two to Five Years
— 75% either "intend" (19%) or "might consider" (56%) purchasing an alternative fuel vehicle, in two to five years.
Economy Impacts Buying Choices
— "Economics, better gas mileage" is the # 1 reason cited by respondents for purchasing a green vehicle (51%).
— Gas prices impact vehicle purchase choices for 80% of the respondents.
— $3.50 a gallon is the gas pump price point at which most respondents (34%) would be more likely to purchase an alternative fuel vehicle.
Under 25s: Generation Green
— 73% are actively considering a green vehicle purchase within the next twelve months (versus 56% for those over 25).
— Environmental factors (such as pollution levels and global warming) impact their likelihood to purchase a green vehicle (53%) versus 44% for over 25.
— Over 80% "intend to purchase" or "might consider buying" a green vehicle in the next two to five years versus 75% over 25.
Hybrid still Tops
— Gas/electric hybrid is the fuel-efficient technology most likely to be considered (38%); small, high MPG gas vehicles are second (14%). Electric plug-ins and fuel cells come in at 11% and 9% respectively.
Autobytel’s What’s Hot Now reports regularly measure and analyze consumer trends, opinions and attitudes about the automotive experience, in real time, by polling automotive consumers who visit autobytel.com and its affiliated websites. For more information on Autobytel’s What’s Hot Now reports, or to speak to an Autobytel expert, contact: Melanie Webber, mWEBB Communications, 424.603.4340 (firstname.lastname@example.org) or Jim Helberg , Autobytel Inc., 949.862.1395 (email@example.com)
Autobytel Inc. (NASDAQ: ABTL) is a leader in providing consumers with a comprehensive and positive automotive research and purchasing experience, and car dealers and manufacturers with online consumer leads and marketing resources. Autobytel pioneered the automotive Internet when it launched autobytel.com in 1995. Today, the company is continuing to offer innovative products and services to help consumers research, buy and maintain their vehicles and auto dealers and manufacturers sell more new and used cars. Autobytel has helped tens of millions of automotive consumers research vehicles; connected thousands of dealers nationwide with motivated car buyers; and helped every major automaker market its brand online. Through its flagship website Autobytel.com®, its network of automotive sites including Autoweb.com®, AutoSite.com®, Car.comsm, CarSmart.com®, CarTV.com®, and MyRide.com®, and its respected online partners, Autobytel continues its dedication to innovating the industry’s highest quality Internet programs to provide consumers with a comprehensive and positive automotive research and purchasing experience, and auto dealers, dealer groups and auto manufacturers with one of the industry’s most productive and cost-effective customer referral and marketing programs.———————————————————————–
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