Cars.com released a statement indicating interest in hybrid cars and other fuel efficient cars was falling in relation to the falling gas prices. At the same time, interest in larger cars and SUVs has seen a big increase lately:
The top 10 increases for used vehicles were:
1. Porsche Cayenne, 15.13%
2. Hummer H2, 14.17%
3. Lexus LX 470, 13.64%
4. Hummer H3, 13.03%
5. Mercedes-Benz CLS-Class, 12.73%
6. Infiniti QX56, 9.06%
7. Ford Bronco, 8.42%
8. Mercedes-Benz CL-Class, 8.35%
9. Cadillac Escalade, 7.40%
10. BMW X5, 7.29%
The top 10 decreases for used vehicles were:
1. Honda Insight, 30.65%
2. Toyota Prius, 29.88%
3. Toyota Yaris, 27.91%
4. Chevrolet Prizm, 27.23%
5. Ford Contour, 26.46%
6. Geo Metro, 25.01%
7. Volkswagen Jetta, 24.08%
8. Volkswagen Beetle, 22.91%
9. Toyota Tercel, 22.80%
10. Ford Focus, 22.42%
But their report leaves a lot of questions. It's not surprising to see a dip in searches, but what's the overall rate of searches for these cars? If there were 50,000 searches in August on the Prius and there were 35,000 searches in September (30% drop), that would be a big decrease. But if the Porsche Cayenne increased 15% from 15,000 last month to 17,250 searches, that's a big increase, but still fewer searches than for the Prius.
At the end of the day, and despite the headlines according to CarMax, fuel-efficient cars remain popular. The 10 most popular vehicle searches from the nearly 4 million visits to carmax.com this September are (in order or ranking): Honda Accord, Ford Mustang, Toyota Camry, Honda Civic, Chevrolet Tahoe, Ford F150, Nissan Maxima, Toyota 4Runner, Jeep Wrangler and Jeep Grand Cherokee.
Thursday, October 12, 2006
Interest in Hybrid cars declining due to falling gas prices?
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