High Gas Prices Are Useful for Hybrid Industry
Suburban Chicago resident Rick Nosek mentioned the following reasons why he had bought a hybrid. “I was watching gas prices going up, and I was getting tired of paying through the nose” Nosek said. He and his wife drive a Toyota Prius.
They say it costs only $13 to fill it up and this makes them feel happy at the pump. “It feels great, I tell ya. It’s phenomenal” he said. There was a four to six month wait for a new Prius even before gasoline prices went north of a $2 average. With hybrids like the Prius getting 40 miles or more to the gallon, the current gas price spike could fuel demand even further. Charlie Vogelheim, executive editor of Kelley Blue Book says that hybrid really is a buzzword right now. People are talking about them. People are looking at them,.
For many years the only competition for Toyota was Honda, with its hybrid Civic. But now the situation is changing. First Hybrid SUV This summer, Ford rolled out a new hybrid of its Escape model. “With these higher gas prices this year, I think we have excellent timing. I think there will be a significant request for such a product” said Dr. Gerhard Schmidt, vice president of research and advanced engineering at Ford Motor Co.
The Ford Escape is the first hybrid SUV, but of course, it will not be the last. “I think the Ford Escape Hybrid is just the tip of the iceberg. I think you will see hybrids in virtually every product segment over the next 50 years or so” said Morgan Stanley auto analyst Stephen Girsky.[VIA: detpress.com]
Written by autoguru on November 11th, 2007 with
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