CNNMoney.com has
posted the article, Hybrids:
Seven worries, seven answers to cover a survey
that was done by Harris Interactive, Kelley Blue
Book's Web site, and KBB.com gauging the consumer
concerns of hybrid
cars.
Potential hybrid consumers are concerned about 1.) Expensive technology repairs, 2.) Reliability of the battery pack, 3.) Technical problems like stalling, 4.) Cost effectiveness, 5.) Performance, 6.) Resale Value and 7.) Real world mileage.
According to CNNMONEY, most of these concerns are not founded in fact; however, cost effectiveness and resale value are potential, real concerns for buyers. Also, real world gas mileage is a point worth noting.
Most of these issues were also covered by Consumer Report's Best of 2006 Auto Survey (more).
While there are legitimate concerns regarding hybrids, they are concerns, not facts. For example, Consumer Reports predicts big losses in resale value, but they admit to a worst-case scenario prediction. This may or may not hold true. If hybrids prove reliable over the long term, then resale value should be much better than CR predicts. Additionally, if gas prices continue to rise AND hybrids prove reliable, then hybrid values will only increase as gas prices increase.
Moreover, if resale value ends up better than CR estimates, then the other main concern, cost effectiveness, will also prove to be a non-issue. Again, if resale value is strong on hybrids AND gas prices continue to rise, hybrids could easily end up as an excellent long term value.
In terms of fuel economy, according to CR, hybrids are the most fuel efficient vehicles. Yes, the EPA estimates are wrong, but they are wrong on all vehicles.
Inevitably, there are legitimate hybrid concerns for buyers; however, everyone of those concerns might ultimately be proven to be unfounded and incorrect. Furthermore, for those who care about the environment or the importance of dealing with foreign oil dependency, a little risk is worth the cause.
Of course, Congress could take most of this risk away. So, join the hybrid car revolution.
Potential hybrid consumers are concerned about 1.) Expensive technology repairs, 2.) Reliability of the battery pack, 3.) Technical problems like stalling, 4.) Cost effectiveness, 5.) Performance, 6.) Resale Value and 7.) Real world mileage.
According to CNNMONEY, most of these concerns are not founded in fact; however, cost effectiveness and resale value are potential, real concerns for buyers. Also, real world gas mileage is a point worth noting.
Most of these issues were also covered by Consumer Report's Best of 2006 Auto Survey (more).
While there are legitimate concerns regarding hybrids, they are concerns, not facts. For example, Consumer Reports predicts big losses in resale value, but they admit to a worst-case scenario prediction. This may or may not hold true. If hybrids prove reliable over the long term, then resale value should be much better than CR predicts. Additionally, if gas prices continue to rise AND hybrids prove reliable, then hybrid values will only increase as gas prices increase.
Moreover, if resale value ends up better than CR estimates, then the other main concern, cost effectiveness, will also prove to be a non-issue. Again, if resale value is strong on hybrids AND gas prices continue to rise, hybrids could easily end up as an excellent long term value.
In terms of fuel economy, according to CR, hybrids are the most fuel efficient vehicles. Yes, the EPA estimates are wrong, but they are wrong on all vehicles.
Inevitably, there are legitimate hybrid concerns for buyers; however, everyone of those concerns might ultimately be proven to be unfounded and incorrect. Furthermore, for those who care about the environment or the importance of dealing with foreign oil dependency, a little risk is worth the cause.
Of course, Congress could take most of this risk away. So, join the hybrid car revolution.
posted by Dahcredyns at 8:33 AM 0 comments
