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Costs of plug-in cars key to broad consumer acceptance

 

A University of Michigan survey released today shows widespread consumer interest in buying plug-in hybrid electric vehicles (PHEVs). But the cost of the cars is much more influential than environmental and other non-economic factors as a predictor of purchase probabilities. The survey of a nationally representative sample of 2,513 adults age 18 and over was conducted between July and November 2008 as part of the Reuters/University of Michigan Surveys of Consumers. The findings were released at The Business of Plugging In: A Plug-In Electric Vehicle Conference in Detroit. "The data provide strong evidence that a combination of economic and social incentives may be most effective in successfully introducing these vehicles," said economist Richard Curtin, director of the Reuters/University of Michigan Surveys of Consumers, conducted by the U-M Institute for Social Research.

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