Thursday January 26, 2012
Generation Y, those consumers between the ages of 19 and 31 years old, may be the brightest ray of hope for the future of hybrid and electric vehicles. A recent study by Deloitte, which partnered with an MSU business professor to conduct a study to determine different consumer preferences in regards to vehicle types, found that a full 59 percent of young adults prefer some type of electric vehicle over those with conventional gas engines. Only 37 percent surveyed favored a gas-only vehicle.
The research was conducted by survey to 1,500 Generation Y, Generation X and Baby Boomer aged consumers int he U.S., as well as 250 Generation Y consumers in China and another 300 Generation Y'ers in Western Europe.
Among the various vehicle choices, those favoring something other than a gas-powered engine much preferred a hybrid vehicle over an all-electric model, with 57 percent favoring a hybrid and just 2 percent saying they'd prefer an all-electric over any other choice.
Wednesday January 25, 2012
Former attorney Heather Peters is having her day in court. Bringing the case forward in small claims court, the Los Angeles Honda Civic Hybrid owner says her 2006 model never even came close to the 50 miler per gallon she was promised, posting no greater than 30 miles per gallon in the time she's owned it. The car's battery has begun deteriorating. Peters is seeking damages related to cost of gas and other punitive damages totaling $10,000.
Her case is set to be reviewed today, but the focus will be on technical aspects of the case as it relates to the statute of limitations. Peters has turned her back on a class-action lawsuit, part of a proposed settlement by Honda with thousands of car owners. Under the proposal, each member of the class action would received $100 to $200 and a $1,000 credit toward purchase of a new Honda vehicle. Peters has used the internet in an attempt to rally car owners to take the small-claims court route instead, which she estimates would cost Honda about $2 billion.
Wednesday January 25, 2012
When natural disaster hit Japan and Thailand last year, the resulting devastation to automotive manufacture helped both General Motors and Volkswagen move past Asia's top automaker in sales. But with a healthy dose of optimism that its expanded Prius hybrid family will do well and some help from Japanese incentives for fuel-efficient vehicles, Toyota has upped its global sales forecast.
Top officials at Toyota say the automaker could sell as many as 1.63 million vehicles in its home market and another 6.95 million overseas. Since introduced last year, Toyota has garnered 100,000 orders for its new Prius compact and about 3,000 for its plug-in version of the popular hybrid.
Sunday January 1, 2012
It had become a familiar refrain: whenever gas prices began to creep up, those in Congress lamented that U.S. refiners were not growing quickly enough to satisfy domestic demand. Well, that accusation suddenly sounds hollow.
According to a recent Associated Press report, it turns out that compared on a dollar basis, the biggest export product for the U.S. in 2011 was--fuel. That's right, the U.S., known as the global gas guzzler, exported more fuel on a dollar-for-dollar basis than any other product.
Turns out that even though the U.S. is still the world's largest importer of crude oil and nowhere near the point of energy independence, the combination of a weak economy and more energy-efficient vehicles has allowed refiners in the U.S. to take advantage of growing demand in areas like Latin America and ship more gasoline, diesel and jet fuel than any other single export product, as measured in dollars. According to the AP report, this will be the first time in more than 60 years that the country has been a net exporter of these fuels.
So the next time you are left shaking your head at high prices at the pump, don't blame low domestic production. Blame refiners for taking advantage of world markets and fueling this new trend. Afterall, as the AP reports points out, the more fuel leaving the country, the smaller the domestic fuel cushion available to keep prices from continuing to creep upward. Kind of brings into question the wisdom of some lawmakers who have told the public that drilling here at home will help reduce gas prices. Sounds more like driling here a thome will sweeten the export pile for finished fuel products and keep prices high here at home.