Posts Tagged ‘Car Buyers’
When the prices of gasoline reached its peak over the three dollar mark last year, it changed the landscape of the auto industry. With more and more consumers wary of an impending increase in the prices of gasoline, fuel efficient small cars are now in demand. This resulted to lesser sale of SUVs and other large cars.
In this way, the price of gasoline changed the auto industry wherein car manufacturers are now focusing on the development of small cars which are commonly fuel efficient. There are still SUVs being introduced in the market for those who need the capability of these large cars for their lifestyle or business. There are also large trucks with hybrid versions which are aimed at those people who want a big car with good gas mileage. Aside from this, another aspect that the increased gas price affected the auto industry is in the sale of used cars.
Recently, more and more consumers are selling their used cars on the Internet rather than settling for a trade-in. This is because auto retailers are offering lower prices. The reason behind this is that they are still struggling to sell the large number of SUVs that consumers have been turning their back on at the onset of the oil price hike.
The trend in using the Internet to sell used car gained momentum last year as the prices of gasoline started soaring. Analysts argue that retailers are focusing on selling new SUVs which have seemed to lose its appeal on most car buyers.
By the end of last year, 34 percent of the used car sale market is attributed to personal sale of used cars. This trend will likely continue as there are still old vehicles that needs replacing because of the increase in the price of gas.
The use of the Internet as a selling tool is a logical step for consumers who want to sell their used cars. The Web is full of online vehicle stores which facilitates the sale of used cars. By using the Internet, consumers have access to a large number of people who are looking for used cars to buy. This influx of used car sale in the market has created a huge source of income for online vehicle stores.
The Internet is being used by used car owners as their own personal Pacesetter exhaust since this is where they release their used cars to the market. And while the trend has been going on for months, analysts say that the trend is just a temporary response to the increase in the price of gasoline. In the near future, when dealerships have taken care of the bulk of SUVs left on their stores, they can already offer good price for consumers who wants to trade-in their used cars.
With the popularity that hybrid vehicles are enjoying in the media and with all the attention they have been getting from environmentalist groups and advocates, one wonders how sales of these hybrid cars are going. Let us look at some secondary data provided to get a glimpse at just how marketable these hybrid cars are.
As of the first quarter of 2007, data from Forbes show that in the US alone, hybrids garnered a combined sale of more than 17,000 units, a remarkable 10% increase from the same period in 2006. The demand is definitely rising, and this demand is translating into actual sales. Sale of hybrid vehicles vis-à-vis the total number of light-duty vehicles sold also increased by as much as 1.4% compared to previous year levels. This only means more and more buyers prefer hybrids to conventional-fuel models.
Why the Rush to the Hybrid Section?
As fuel prices soar, more and more car buyers are prompted to go for hybrid cars. Since 2003, hybrid car-makers have been raking in profits from hybrid car sales. In 2004 in the US alone, hybrid car sales were almost 88,000 units. And with the increasing awareness about climate change and global warming, hybrid car sales are yet again expected to surge.
With great expectations for hybrid car sales to reach record highs in 2007, carmakers are rushing to put into the market new models, packed with all the environmental protection and fuel efficiency features that they could muster, not to mention the technological come-ons. New models are also widening the array of offerings, from compact to mid-sized sedans, to SUVs and minivans, even to pickups and trucks.
Car buyers can afford to be choosy with the broad range of hybrid units being offered in the market today. Moreover, fuel-efficiency and environmental friendliness features of these hybrids are reaching new heights, captivating a new kind of socially conscious and responsible breed of buyers.
Prices are reasonable enough to guarantee a following. Moreover, tax incentives and breaks are given to buyers of these eco-friendly hybrid units. Doing the math, the hybrid buyer is aware that he can easily recoup the few thousand dollars difference of a hybrid model over that of a conventional one, through reduced fuel consumption.
And these hybrids come safe for the buyer and his family, too. In addition to fuel efficiency, hybrid safety features are bringing in more buyers. Open the windows and the low emissions of your hybrid ensure that your kids are breathing fresher and cleaner air inside and outside the hybrid van. Navigation and stability systems for the hybrids are also a notch higher, adding to the safety factor more. A hybrid car buyer is assured of efficiency not only fuel-wise, but overall car performance-wise.
As buyers become more fuel-price conscious and more aware of climate change and the effects of greenhouse gases; as they realize that safety is paramount, and begin to expect comfort and enjoyment from riding safe and eco-friendly vehicles, hybrid car sales will continue to rise. Car makers are thus capitalizing on this trend and are coming up with one innovative hybrid model after another. Every car dealer will surely have one hybrid in his stable.