Americans willing to buy HEVs if price is right

Advanced Battery Technology,  Jan 2002  

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According to a recent study conducted by Roland Berger Strategy Consultants, consumers are ready to purchase hybrid electric vehicles (HEVs), "but only at the right price." The study titled "Automotive Hybrids: A Desired Vehicle for the Right Price"determined that people will pay up to a 10% price premium for HEVs in return for improved fuel economy and reduced air and noise pollution.

Nearly 90% of consumers surveyed for the study showed an interest in HEVs, with North American consumers expressing the strongest interest. In addition, more than 75% of all consumers said they would consider replacing their current vehicle with an HEV if the price premium was reasonable. The vast majority of respondents identified 10% as the limit they would pay for a premium on an HEV.

The study determined that North American consumers noted that satisfaction with their current car brand would be one of the main criteria for replacing their existing vehicle with an HEV More than 50% of European drivers felt that hybrid electric technology is not yet well-developed, while North American and Japanese consumers were more optimistic.

"Consumer optimism about [HEVs] provides new growth opportunities for suppliers," said Roland Berger official Michael Heidingsfelder. "Suppliers must be fully aware of global automakers' outsourcing patterns. Those suppliers that leverage their existing competencies and customer relationships to eliminate bottlenecks in technology and manufacturing will emerge as market leaders."

For more information contact: Mahesh Lunani, (248) 729-5000, email: mahesh-lunani@us.rolandberger.com

Copyright Seven Mountains Scientific, Inc. Jan 2002
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