While the number of available hybrid vehicles has more than doubled since 2007, not too many owners are buying a second hybrid. According to R.L. Polk, a company that gathers and interprets such automotive information, only 35 percent of hybrid owners purchase another when they again bought a new car in 2011. If you don’t consider Toyota Prius buyers, the repurchase number falls below 25 percent.
The good news for automakers that sell hybrids is that buyers who had one of their hybrids tend to remain loyal to the brand. Polk reports, for instance, that 60 percent of buyers who owned a Toyota hybrid bought another Toyota.
“Having a hybrid in the product lineup can certainly give a brand a competitive edge when it comes to attracting new customers,” noted Brad Smith, director of Polk’s Loyalty Management Practice. “The repurchase rates of hybrid vehicles are an indication that consumers are continuing to seek alternative solutions to high fuel prices.”
Polk points out that just 2.4 percent of new car purchase are hybrids, down from 2.9 percent in 2008.
Interestingly, of the 15 top markets for hybrids, three of the supposedly eco-friendly cities – Portland, OR, San Diego, CA and Los Angeles, CA – had the lowest hybrid loyalty rate. The highest? None other than West Palm Beach, FL.
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Source : Google Reader
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