Plug-in Hybrid Vehicle Purchases May Depend on Fuel Savings and Incremental Cost
November 2, 2009
The recently released results of a 2008 survey on plug-in hybrid vehicles (PHEVs) show that 42% of respondents said there was some chance that they would buy a PHEV sometime in the future. Questions were also asked that gave an added vehicle price for a PHEV, with the assumption that the vehicle fuel costs would be reduced by 75%. When asked about a PHEV that costs $2,500 more than an ordinary vehicle but resulted in a 75% reduction in fuel costs, 46% of the respondents said there was some chance they would purchase a PHEV. When the incremental vehicle price went up to $5,000, only 30% of respondents said there was a chance they would buy a PHEV; with the incremental vehicle price at $10,000, only 14% said there was a chance they would buy a PHEV.
Purchase Probabilities for Plug-in Hybrid Vehicles under Certain Scenarios
Purchase Probabilities for Plug-In Hybrid Vehicles Under Certain Scenarios
| Purchase Probabilities | |
|---|---|
| No Cost or Fuel Data Given | 42% |
| Vehicle Cost + $2,500; Fuel Cost -75% | 46% |
| Vehicle Cost + $5,000; Fuel Cost -75% | 30% |
| Vehicle Cost + $10,000; Fuel Cost -75% | 14% |
Source
University of Michigan, Plug-in Hybrid Electric Vehicles, October 2009. Based on a survey conducted between July and November 2008, N=2,513.