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Electric Vehicles Revive Auto Industry
Increasing demand for electric vehicles has everyone uttering about alternative fuel solutions. Auto manufacturers have ambitious plans in the coming year to deploy new electric cars that are powered by batteries.
During the past year, the auto industry has faced some dark times, but new Electric Vehicles are about to change all that. A new electric car industry is building and car manufacturers are planning to deploy a new fleet of fuel efficient alternatives. The electric car race is on, and it's been brought to you by the consumer.
Many things have changed during the past year. For example, gas prices soared to new highs in 2008, prompting many consumers to rethink about their transportation needs. This has prompted consumers to trade in their conventional gas vehicles for new hybrids.
In 2009, the economy slid into a recession and the government offered new incentives to help the auto industry while removing some of the old gas-guzzlers from the road. The program, Cash For Clunkers, was a huge success. The program ran out of funding during its first week. Moreover, congress extended the program by adding another $1 billion in funding. Two weeks later, the Cash For Clunkers ran out of funding again.
Sales for Toyota and Honda climbed during the length of the program. The 2010 Toyota Prius and the 2010 Honda Insight made huge gains. However, Ford seemed to benefit the most.
Ford offered the best deal because they still offered a $3,400 hybrid tax credit for the 2010 Ford Fusion. This means that a new car buyer who wanted to trade in their clunker could get up to $4,500 from the clunker rebate, plus get an additional $3,400 government tax incentive. As a matter of fact, several people traded in their Honda and Toyota cars to Ford in order to get in on the hybrid tax credit.
In late 2007, we used to receive emails about the news we wrote on hybrid cars. Most people wrote in and said that the hybrid and electric vehicle technology was laughable. Times changed when gas prices went up during the summer of 2008.
The tone of the emails sent in by consumers changed. People wrote in and started asking what the best hybrid car was. Others wrote in and asked what the driving range was on new electric vehicles. The entire auto industry changed in two years. Most people have done their research and have accepted the idea that hybrid cars and electric vehicles can save them money, reduce our dependency for foreign oil, and they can help our environment.
Amazingly enough, the auto manufacturers like this idea too. They are ramping up the competition and cashing in on this new market of fuel efficiency. Some people have asked why it took so long for the automakers to build electric cars. Most people believe that the technologies weren't available until earlier this year. While some of these explanations are true, but as long as conventional vehicles were selling, why put so much effort into building a car that runs on a very expensive battery?
The good news is, the cost of those lithium-ion and nickel-metal hydride batteries are getting cheaper due to higher demand. The more we buy vehicles that have these new batteries, the more the price will come down. There was a time when these batteries were $15,000 and the auto manufacturers just couldn't justify building a $25,000 vehicle and adding all that extra cost to the base price.
Some of these electric batteries today are between $1,500 to $3,500. It just makes better sense to drive electric automobiles and achieve the same commute without using a drop of gasoline. It's a smarter choice.
Source:[newsoxy.com]
During the past year, the auto industry has faced some dark times, but new Electric Vehicles are about to change all that. A new electric car industry is building and car manufacturers are planning to deploy a new fleet of fuel efficient alternatives. The electric car race is on, and it's been brought to you by the consumer.
Many things have changed during the past year. For example, gas prices soared to new highs in 2008, prompting many consumers to rethink about their transportation needs. This has prompted consumers to trade in their conventional gas vehicles for new hybrids.
In 2009, the economy slid into a recession and the government offered new incentives to help the auto industry while removing some of the old gas-guzzlers from the road. The program, Cash For Clunkers, was a huge success. The program ran out of funding during its first week. Moreover, congress extended the program by adding another $1 billion in funding. Two weeks later, the Cash For Clunkers ran out of funding again.
Sales for Toyota and Honda climbed during the length of the program. The 2010 Toyota Prius and the 2010 Honda Insight made huge gains. However, Ford seemed to benefit the most.
Ford offered the best deal because they still offered a $3,400 hybrid tax credit for the 2010 Ford Fusion. This means that a new car buyer who wanted to trade in their clunker could get up to $4,500 from the clunker rebate, plus get an additional $3,400 government tax incentive. As a matter of fact, several people traded in their Honda and Toyota cars to Ford in order to get in on the hybrid tax credit.
In late 2007, we used to receive emails about the news we wrote on hybrid cars. Most people wrote in and said that the hybrid and electric vehicle technology was laughable. Times changed when gas prices went up during the summer of 2008.
The tone of the emails sent in by consumers changed. People wrote in and started asking what the best hybrid car was. Others wrote in and asked what the driving range was on new electric vehicles. The entire auto industry changed in two years. Most people have done their research and have accepted the idea that hybrid cars and electric vehicles can save them money, reduce our dependency for foreign oil, and they can help our environment.
Amazingly enough, the auto manufacturers like this idea too. They are ramping up the competition and cashing in on this new market of fuel efficiency. Some people have asked why it took so long for the automakers to build electric cars. Most people believe that the technologies weren't available until earlier this year. While some of these explanations are true, but as long as conventional vehicles were selling, why put so much effort into building a car that runs on a very expensive battery?
The good news is, the cost of those lithium-ion and nickel-metal hydride batteries are getting cheaper due to higher demand. The more we buy vehicles that have these new batteries, the more the price will come down. There was a time when these batteries were $15,000 and the auto manufacturers just couldn't justify building a $25,000 vehicle and adding all that extra cost to the base price.
Some of these electric batteries today are between $1,500 to $3,500. It just makes better sense to drive electric automobiles and achieve the same commute without using a drop of gasoline. It's a smarter choice.
Source:[newsoxy.com]
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Very interesting post... I can see that you put a lot of hard work on your blog. I'm sure I'd visit here more often. George from wanted cars.
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