Editor/Reporter - CheersandGears.com
April 9, 2012
A new study published by R.L. Polk said only a third of hybrid owners bought another in 2011.
The study showed that only 35% of hybrid owners bought another. Take out the most popular hybrid, the Toyota Prius and the number falls to 22%.
Brad Smith, director of Polk's loyalty management practice told Automotive News the biggest problem for hybrid vehicles is the advancements made with conventional gas engines.
"The premium price points for hybrids are just too high when so many conventional small and mid-size cars have improved fuel economy," Smith said.
However, hybrid vehicles are making an impact for automakers. Smith said hybrid vehicles seem to attract new buyers and help retain them.
That is especially true for Toyota, a brand that has pioneered hybrids. In 2011, Polk found that 60% of Prius owners back in the market bought a Toyota. The study also showed 41% of Prius owners in the market bought another Prius or a hybrid wearing a Toyota badge.
Source: Automotive News (Subscription Required)