Hybrids' Price Performance Will Be Key To Loan Success
MCCLEAN, Va.-If hybrid vehicle price performance is any indication, the value of electric cars could take big swings in the coming years.
Larry Dixon, manager of data services for NADA, explained the value of the new electric vehicles is likely to be greatly affected by gas prices and overall consumer acceptance of the technology. Dixon backed up his assertion with data that outlines how the value of hybrids jumped significantly when gas prices soared in 2008. But since then, the premium the cars command has disappeared.
The chart compares price performance of the Civic gas and hybrid, and the Toyota Corolla and Prius. In 2008, the two hybrids (prices shown on the chart are averages for one- to-five year-old cars) significantly outperformed their less-fuel efficient counterparts. "However as fuel prices have come down, the hybrid vehicles have lost some of the luster they had in 2008," Dixon said.