If you’re currently considering purchasing an electric car or a hybrid, now may be the time to do so, according to TrueCar — with the best prices likely to be seen right now, owing to manufacturers lowering them to compete with low gas prices.
“Fuel savings are not top of mind to many consumers right now, and that makes this a great time to buy a hybrid or electric vehicle,” noted the president of TrueCar, John Krafcik. “With gasoline prices now averaging just US$2.10 per gallon, and vehicle preferences tied so closely to short-term gasoline prices, automakers are heavily discounting their most fuel-efficient cars to clear inventories.”
A good example of this is the fact that many Ford buyers can right now pick up a Focus Electric for around 16% off the MSRP; and Prius buyers can pick one up for roughly 10% off the MSRP.
“Gasoline prices and vehicle type preferences are strongly related, and this relationship is cyclical in nature,” stated Krafcik. “Fuel is relatively inexpensive right now, but when the pendulum swings the other way it will make future alternative fuel vehicles more appealing.”
And there is no doubt that that pendulum will be swinging back to high gas prices in the coming months/years. So enjoy it while it lasts, I’d say — both with regards to affordable gas prices, and with regard to discounted electric and hybrid vehicles.
Lower gas prices, of course, also mean increased carbon emissions. Steve Hanley of Gas2 provides some commentary on that subject:
Say what you will about governments and regulations, we car buyers now have the ability to buy some of the cleanest burning, most efficient vehicles in history. Today’s cars have fewer greenhouse gas emissions than the trusty horses our grandparents relied upon. Emissions and gas mileage standards are not going to be relaxed even if gas is free. The world simply can’t afford to party like it’s 1999.
Remember, this is Gas 2.0, where our motto is “Burn rubber, not gasoline.” We are all about a future fueled by clean, renewable energy. Cars that offer an alternative to gasoline are coming, ready or not. BMW just announced that it is retooling its entire fleet of cars from 3 Series sedans to every Rolls Royce to run on electric power exclusively. What internal combustion engines they have will perform range extender duty only.
So I guess the takeaway here is that instead of just enjoying the low gas prices, if you’re considering switching over to an electric or a hybrid, now’s the time. Do it!
Image Credit: Ford
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