Outlook for New Vehicle Sales Falls on Credit and Mortgage Woes; High Fuel Costs Spur Interest in Alternative Fuel Vehicles
(PRWEB) January 25, 2008 -- After declining for three months in a row, the AutoView Auto Purchase Outlook Index reversed course this month, picking up 4.8 points, or 6.2%, to reach 83.5 (vs. 78.6 in December 2007). Despite the up tick, this month's reading still represents the second lowest score for the Index in its 12-month history, which was reached last month. Currently the Index is 12.9 points below its all time average of 96.3.
Note: Index readings correlate with demand and purchase plans for new automobiles.
Higher index scores indicate higher demand, while lower scores indicate lower demand.
The baseline score for the Index is 100.
"The relatively low Index reading is a reflection of the uncertainty and unease many Americans are feeling about the national economy as a whole," said Raghavan Mayur, president of AutoView, the automotive research division of TechnoMetrica Market Intelligence. "The battering the economy has taken from the sub-prime mortgage situation, credit squeeze, persistently high energy prices and the psychological impact of a weak dollar are all contributing factors."
On its own, the Index signals weaker-than-average demand among American consumers and is a warning that sales may be in for a slump.
However, when taken together with data garnered from TechnoMetrica's Alternative Fuel Vehicles Tracker, the combined data also suggests that consumers are not as keen on purchasing existing vehicle types as they used to be, and would likely show stronger interest in purchasing other types of vehicles - especially alternative fuel vehicles.
In fact, in December of 2007, 78% of consumers indicated that they were likely to consider an alternative fuel vehicle the next time they were in the market to purchase or lease a new auto.
January's Breakdown
This month, 14% of adult American consumers indicated that they were very (6%) or somewhat likely (8%) to purchase or lease a new vehicle within the next 6 months.
Most of those who indicated that they were likely to buy within six months plan on making their purchase within the next 4 to 6 months (79%), while smaller numbers plan on doing it within the next one month (7%) or within 2 to 3 months (12%).
Considering vehicle type, compact cars (26%) made the top of the list of vehicles likely buyers were most likely to purchase, followed by small SUVs (22%) and pickup trucks (16%). By make, most (52%) of likely buyers say that they will purchase an American brand, while a quarter (24%) are eyeing Asian brands and a tenth (11%) European.
Looking at brands, January's survey found that if consumers were to purchase a vehicle today, Chevrolet and Ford would share the number one spot, with both receiving 19% of the vote. Honda would capture second place (12%) while Mercedes-Benz would capture third (9%).
In total, luxury brands were the brands of choice among 11% of likely buyers, while 76% said they would purchase non-luxury brands.
Changes in Demand
AutoView tracks demand for new automobiles among 26 different demographic groups.
In January, demand increased among 16 of them while declining among 10.
The largest gains occurred among Black and Hispanic consumers (up 11.1 percentage points), followed by those earning between $50K and $75K per year (+8.6) and Westerners (+6.4), while the largest drop in demand occurred among parents of children under the age of 18 (down 4.7 percentage points).
Other declining groups included those earning more than $75K per year (-4.0), women (-3.1) and Midwesterners (-3.0).
For more information about the AutoView Auto Purchase Outlook Index, or any of our other reports, please call 1-800-328-8324 or send an email to ckambanis@technometrica.com.
About AutoView
AutoView is the automotive research arm of TechnoMetrica Market Intelligence, a nationally recognized research firm and a leader in the publication of economic and industry-specific consumer confidence and purchase plan indicators. In addition to the Automotive Purchase Outlook Index, AutoView also publishes the Alternative Fuels Tracker, a quarterly tracking study that monitors the development and growth of the alternative fuel vehicle market. Each year, AutoView also publishes 30+ reports focusing on different automotive topics.
The following report titles are slated for 2008 publication:
Affluent Market I (perspectives)
Affluent Market II (psychographic segments)
African American Market
All Terrain Vehicle Market
Alternative Fuels Overview
Automobile Financing
Baby Boomer Market
Brand Reputation I (Bi-Annual)
Brand Reputation II (Bi-Annual)
Certified Pre-Owned I (Bi-Annual)
Certified Pre-Owned II (Bi-Annual)
Compact SUVs
Crossover Utility Vehicle
Family Vehicles
Lifestyles & Automobiles (youth)
Lifestyles & Automobiles (all consumers)
Light Truck Market
Media and Auto
Motorcycle/Motocross Market
New Automobile Purchase Process
Off Road Consumer Profile
Off-road Vehicles
Onboard Entertainment
Online Auto Shopper
Small Business Market
Small Cars
Sports Marketing and Sponsorship
Telematics
U.S. Auto Aftermarket
U.S. Trends and Forecast - Mid-year
U.S. Trends and Forecast - Year-end
Used Vehicle Market I
Used Vehicle Market II
Youth Market
Youth Oriented Vehicles (Tuner market)
###
Hybrid Articles:
Consumers Now Have One-Stop Shop for Green Cars: New Website Saves Time Researching, Buying and Selling New & Used AFVs
With 11 million alternative fuel vehicles on the road and almost 70 million AFVs on sale today, the quest to buy green cars is gaining poularity. If someone wants to learn more about AFVs and buy or sell one, it can take days to figure out where these care are listed amongst the myriad of options. GreenCarDepot.com (www.greencardepot.com) is a one-stop maketplace for buying and selling AFV's, and a hub for information and industry-related parts and careers.
Why Hybrid Car Should Be Used?
Big car manufactures are now investing in billions to hit the future jackpot- an environment friendly hybrid car. All big brands have their own versions of hybrid car but still there are challenges in pick up and speed. These scientific marvels make use of both electric and gas power to make for a cleaner, more cost efficient, and environmentally friendlier car.
Post-Petroleum Transportation Identifies Five Alternative Fuel Myths
Expert on alternative fuel strategies for business identifies the leading myths concerning high fuel costs and fuel shortages. These myths hinder the development and deployment of alternative fuels including ethanol, methanol, butanol, di-methyl either (DME), bio-diesel, straight vegetable oil, bio-methane, hydrogen, natural gas, propane, and synthetic liquid fuel. The author argues business managers should educate themselves so they can begin to address alternatives to rising fuel costs and shortages affecting their business.
Jeffrey Automotive Introduces Brand New Plan for a DIY Electric Car
Plans are for a DIY Electric Car that can be built in the garage or workshop using basic woodworking and engineering skills.
2006 Electric Car Has Been Around For More Than A Century
The idea of having an electric car makes so much sense. Imagine workers in a large, contained industrial area using electric cars to transport material and employees from one area to the next. At the end of the run they would simply plug the car in and charge it back up. Imagine the same electric car on college campuses across the country. Students would drive from class to class and then back to their dorm or apartment. As part of their regular routine, they would plug in their electric car for a recharge.
Electric Car
The electric car?transportation of the future, or practice in futility? This article will discuss the practicality of the electric vehicle, its advantages as compared to the internal combustion engine, and its disadvantages
Seven Reasons For Not Buying A Hybrid Car
Looking to buy a hybrid car? Are you scouring the web for which are the best hybrid cars, what are the facts about hybrid cars, and perhaps even what are hybrid cars for sale on eBay?
Alternative Fuel Vehicle Market Cracks Wide Open as Oil Thunders Towards $110 per Barrel; TechnoMetrica Releases New Study
New research shows that American consumers, beaten down by high gasoline prices, are now more ready than ever for alternative fueled vehicles - Northeasterners hardest hit by high gasoline prices, market ripe for development.
12 Volt Electric Car
The Electric Car is quite a revolution of the millennium auto technology and also global the auto industry in general. It is also popularly known by its abbreviated name, ?EV?. The principle behind an electric car is that, its motors and motor controllers run through electricity, instead of fuel run internal combustion engines (ICE) / motors.
IntelliChoice.com: New EPA Ratings Should Not Dim Appeal of Hybrids -- - Alternative-Fuel Vehicles not just about fuel economy -
PRIMEDIA's IntelliChoice.com, the online source for automotive ownership cost and value analysis, today said the Environmental Protection Agency's new gas mileage ratings should not be a primary concern for auto buyers considering hybrids and alternative fuel vehicles.
Saving Money With A Hybrid Car
Hybrid Cars not only seek and help out the environment, but they can also save the consumer money through government incentives and other motives, all which add to the worthy reasons why consumers should be investing in this low fuel expenditure and unique car. The cars are being seen as a car of the future and certain states in America are giving advantages to owners of them.
What Are The Benefits Of Owning A Hybrid Car ?
One thing the hybrid cars promise users is the most, is their ability to save gas by consuming less, as well as reduction in atmospheric pollution. For that reason more people prefer to own hybrid vehicles these days. Hybrid cars run on both fuel and engines that are powered by battery. This means that, they consume less oil and emit less gas when compared to gasoline powered vehicles. Hybrid car, no doubt is a possible solution to the sporadic hike in fuel price in the oil market.
Global Green USA Promotes Plug-in Hybrid, All Electric, and Alternative Fuel Vehicles for Oscars Drive: Stars Skipping Gas Guzzlers; Arriving in Ec
To shine the light on solutions to climate change and lend their star power to the problem of global warming, some of the world's biggest celebrities are choosing to arrive at the Academy Awards in 'green cars.' Instead of stretch limos or SUV's, they'll be arriving in eco-friendly hybrids, electric sports cars and other green vehicles. Celebrities and notable individuals participating this year include: Leonardo DiCaprio, Penelope Cruz, Forest Whitaker, Nicole Kidman, Kirsten Dunst, Ryan Gosling, Gwyneth Paltrow, Al and Tipper Gore, Melissa Etheridge, Davis Guggenheim and Elisabeth Shue, Larry and Laurie David, Lawrence Bender, Scott Z. Burns, Lesley Chilcott.
Save the World with an Automobile Electric Car
Ok, so an automobile electric car won?t solve all the world?s problems on its own, but it can help reduce CO2 emissions and dependence on fossil fuels, including foreign oil sources. More manufacturers have been focusing on the development of hybrid and electric cars over the last few years and kits can help you convert a regular automobile to an electric one if you wanted to go that route. With an electric car, you?ll be saving money and helping the environment at the same time.
Purolator to Deliver Alternative Fuel Vehicle Case Study at eyefortransport's Effective Fuel Management for Fleets Conference
Director, National Fleet, Purolator, Serge Viola will present an evaluation and report on Purolator's award-winning 'Greening the Fleet' initiative exploring the use of clean transportation technologies at the Miami Radisson Hotel, February 20-21, 2007