As gas prices continue to flirt with $3 per gallon, consumers are searching for cost saving alternatives. While purchasing a new vehicle may seem like a costly option, selecting an alternatively powered vehicle will save consumers more in the long run, finds a new survey released by Synovate, a market research firm.
Hybrids are becoming increasingly popular with Americans due to the mass production of the cars and their reported fuel efficiency. However, Synovate is predicting that diesel engines may also generate substantial interest in the next few years. Currently, consumers are unaware of the benefits of owning a diesel engine in today's world. But with gas prices continuing to soar, JD Power and Associates predicts that by 2010, hybrids and diesels could each represent five to 10 percent of new light-vehicle
This is particular pertinent among contractors in the snow and ice removal industry. The most recent GIE Media’s Snow Magazine research shows fuel costs rank high among snow contractors to concerns. In fact, more contractors are adopting diesel equipment for its reliability and its fuel efficiency, the research shows, with 40 percent of contractors indicating the diesel engines power their fleet last snow season, a 5 percent increase over the previous year.
Synovate's survey findings concluded that the excitement and media hype around recent hybrid launches has led to 56 percent of consumers indicating they are more likely to consider a hybrid vehicle than they were a year ago, only five percent say they are less likely. In contrast, only 20 percent of car and truck buyers say they are more likely to consider a diesel engine than they were a year ago, while 13 percent are less likely.
"Hybrids are what we hear about today. Consumers align them with better fuel economy and less harm to the environment. What consumers are not aware of is that diesel offers similar fuel economy benefits," says Scott Miller, CEO of Synovate Motorresearch, the
Developments that may force Americans to change their perceptions of diesel engines include recent tax credits upwards of $3,400, higher emission regulation standards, environmental benefits and substantially higher fuel economy. The facts are, in 2005, diesel engines are an alternative to hybrids, yet largely less publicized.
When consumers look to consider alternative technologies, Synovate's research shows their number one consideration is fuel economy (42 percent), followed by how environmentally friendly the vehicle is (24 percent).
When asked why they are hesitant to accept new technologies, Americans largely claimed that lack of familiarity with the technology (42 percent) and general dislike of the technology (41 percent) were the main issues. "The numbers show hesitancy on the consumer side mainly resulting from lack of knowledge of the benefits of each technology," said Miller. "In the case of diesel, experts will tell you that most consumer concerns have been resolved by newer diesel technologies. With gas prices climbing, consumers are going to be forced to become educated on their options. This is a great time for the alternatively powered vehicle industry."