Why aren't hybrid car owners showing more loyalty to hybrids?
April 29, 2016 07:51 AM - Leon Kaye, Triple Pundit
Hybrid cars have come a long way since the first frumpy Toyota Prius debuted in Japan almost 20 years ago. The same can be said for electric cars since GM rolled out its EV1 in the late 1990s, only to backtrack, repossess and destroy all of them, infuriating its fans in the process. There are now dozens of hybrid models, and they enjoyed a surge in saleswhen gasoline prices spiked in 2007 and again in 2012. But more recently, their sales overall have been on the decline. Meanwhile electric vehicles are becoming more sophisticated, are improving their range and have seen sales on the uptick while the automakers have become more competitive in their advertising.
As expected, hybrid cars’ sluggish sales numbers have much to do with the fact that oil prices have been in a two-year slump while conventional gasoline engines keep getting cleaner and more fuel efficient. When hybrids started becoming more popular a decade ago, it was often assumed that when it came time for a new upgrade, owners would stay loyal and trade in one hybrid car for another.