Gas-Saving Moment of the Day: Everyone Buy a Hybrid

In a previous post, we pointed out an obvious way to save gas, which is to make the next car you buy a hybrid. Although this seems obvious, we'd like to point out that if you buy a hybrid you are actually helping reduce the price of gas.

You see, if just you buy a hybrid, that will save you gas and therefore money. However, if millions and millions of drivers bought hybrids, the overall need for gas would begin to decline, and the price would eventually come down. Less demand equals more supply, which in turn equals gas savings for everyone.

This phenomenon may not be as far away as you'd think. In a survey, J.D. Power and Associates found that 62% of drivers are seriously considering a hybrid for their next vehicle. This is up from 50% only a year ago and marks the biggest leap in consumer interest ever recorded in J.D. Power’s alternative powertrain survey.

Of course, right now there aren't enough hybrids to meet demand, and they make up less than 5% of total new-car sales. But if every manufacturer’s entire lineup were hybrids, well, you can imagine the gas savings on the consumer. Demand for gas would go down — impacting the price at the pump — and with that much volume, the cost of hybrids would go down as well.

Related:
More Gas-Saving Moments of the Day (KickingTires)

 

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