Europeans Want Better Fuel Economy, But Don't Want to Pay for It
According to a new Harris Interactive AutoTECHCASTSM study of adults in the UK, France, Italy, Germany and Spain, more than one-third (35%) are very or extremely likely to include enhanced fuel economy technologies on their next vehicle. Nearly one-third of all vehicle segment owners expressed the same sentiment, with SUV/4x4 owners expressing the highest initial consideration at 44%. Despite this, once respondents were made aware of a £650/€950 price tag, consideration dropped 24 percentage points to 11%.
Stephen Lovett, Director of Automotive & Transportation Research at Harris Interactive says, “We defined ‘enhanced fuel economy’ as technologies that improve overall fuel consumption by controlling valve timing, reducing engine friction, improving transmission efficiency and reducing other mechanical losses. It is interesting to note that while this data shows us that consumers are very interested in these fuel-saving technologies, it also indicates that they’re generally not willing to pay for them.”
Almost 2 out of 10 respondents (19%) indicated they were very or extremely likely to include hybrid electric technology in their next vehicle. Consideration dropped twelve percentage points to seven percent once respective market price of £3,000/€4,000 was revealed. Seven out of ten prepared to consider hybrid electric vehicles (70%) were at least likely to consider a plug-in hybrid electric vehicle.
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