With environmental and economic concerns increasing, this summer was an
appropriate time to survey our visitors to discover their thoughts on
green vehicles, greening the environment, and keeping green in your
wallet. Surveyed at the end of July, 2010, visitors reported
encouraging statistics.
All about the green (money, and
environment)
The leading story since spring of 2010 has been the BP oil spill in the
Gulf of Mexico. You couldn't turn-on a TV, open a newspaper, or launch
a web browser without being bombarded with oil spill coverage. When we
asked if the Gulf oil spill has impacted the likelihood of purchasing a
green vehicle, a 58% majority claimed that the spill had no influence
on considering green vehicles. The Gulf Oil Spill is driving only 7% of
consumers to choose an alternative fuel vehicle as their next purchase,
and 13% to 'seriously consider.' 23% did report the oil spill
might have an impact on their vehicle selection.
Surprising as this may seem, when we asked the main reason for
considering a green vehicle, 51% responded that saving money is most
important. 'Reducing dependence on foreign oil' (22%) ranked second,
while 'the environment' ranked next to last at 17%. This sheds light on
the Gulf oil spill question. If buyer is more interested in saving
money, the oil spill wouldn't have an impact on their vehicle purchase
decisions. 39% is not an insignificant number though, so it's clear
that saving money and the environment are key factors for consumers
considering a green vehicle.
Considering fuel price sensitivity, 33% of respondents reported that
when fuel prices reach $3.50 per gallon, they would be much more likely
to purchase an alternative fuel vehicle. This is interesting to note
because as of writing this, the average price of fuel in the United
States is $2.78 per gallon. Prices need to climb less than one dollar
per gallon for fuel to become a major factor in considering an
alternative fuel vehicle. Gas prices are truly a hot-button issue, with
nearly 80% of respondents report gas prices having an impact on vehicle
purchase decisions.
Bright Future
The bright spot for the green car industry was revealed in asking about
purchasing time frames. When asked when you would be most likely to
consider buying a green vehicle, 55% responded they are considering a
green vehicle within the next 12 months, with 16% 'seriously'
considering, and 9% 'definitely considering.' Extended out to two- or
five-years, 75% reported that they either intend to purchase (20%) or
might consider purchasing (55%) a green vehicle. Notably, only 8% ruled
it out completely. The weak economy could have something to do with
this trend, though as consumers become more aware of green car
technology, and more appealing options become available, the green
space will only strengthen with consideration.
Simple technology favored (for now)
Hybrids and high-mpg gas vehicles still top the list with 52% of
consumers, and Hybrids most preferred. Electric plug-ins (in spite of
all the publicity) and fuel cells barely make a dent, at 11% and 9%
respectively. And consumers aren't predicting the demise of
gas-powered vehicles any time soon. Only 10% think the average American
will be driving a non-gasoline vehicle within the next five years.
The vast majority don't forecast the death of the gas-powered vehicle
for at least 10 or 15 years and well beyond, or at all. As electric
plug-in options become more readily available, and the cost of entry
starts to decrease, count on a rise in popularity. Being in the early
adopter phase at best, it's no surprise that electric vehicles aren't
highly favored, but with cubic marketing dollars being spent by Nissan
for the Leaf and Chevrolet for the Volt, it won't be long before
consumer awareness is higher.
Emerging "Generation Green"
Sub 25-year-olds may soon be known as Generation Green. We found in our
study that seventy-three percent of respondents under age 25 are actively
considering a green vehicle purchase within the next twelve months
(versus 56% for those over 25). Under 25s were also much more likely to
be influenced by the gulf oil spill, with 69% reporting it has directly
influenced them to buy (20%), or consider buying, a green vehicle -
versus 41% for over 25s. Meanwhile, 82% argue they 'intend to
purchase' or 'might consider buying' a green vehicle in the next two to
five years versus 75% over 25. And more of those under 25 believe that
gas vehicles will be obsolete within five years (at 33%), than any
other group. They are also much more likely to consider plug-in or fuel
cell technology than those over 25.
.jpg)
With environmental and economic concerns increasing, this summer was an
appropriate time to survey our visitors to discover their thoughts on
green vehicles, greening the environment, and keeping green in your
wallet. Surveyed at the end of July, 2010, visitors reported
encouraging statistics. 
