Everyone is striving to go green, and the automotive industry is no exception. Electric and hybrid vehicles are a hot topic, and tons of manufacturers are hopping on the bandwagon - especially right now, with fuel costs approaching record highs. Since electric vehicles are the eco-friendly option, why don’t car manufacturers simply make them the new normal? Let’s dive into the details of electric and hybrid vehicles.
What makes electric vehicles & hybrids so appealing to customers? Let’s find out.
Environmentally Friendly - Perhaps the biggest pull in favor of electric/hybrid vehicles is that they produce less emissions. The emissions benefits of hybrid vehicles vary depending on the vehicle model and type of hybrid power system, but electric vehicles typically produce zero tailpipe emissions, while hybrids produce none while running in all-electric mode.
Cost-Effective Refueling - Recharging your electric vehicle typically costs much less than using gasoline every so often. With fuel costs being higher than ever, that’s a huge perk for going electric.
Tax Discounts & Other Incentives - You may be eligible for a federal income tax credit of up to $7,500 for purchasing an electric/hybrid vehicle, among other rebates for going green.
Since owning an electric/hybrid vehicle is so beneficial for the environment and the driver, why aren’t they found in every garage? Let’s take a look at what else goes into this type of vehicle.
Higher Upfront Cost - When it’s time to purchase your vehicle at the dealership, the price tag is higher than it may be for the average gas-fueled vehicle. However, fuel costs over the course of your ownership as well as tax credit incentives may offset the upfront cost. Always consider your short-term and long-term budget before deciding on your vehicle. If you feel that the upfront cost of an electric vehicle is a bit much for your budget, springing for a used one may be the way to go.
Shorter Range - Most of today's all-electric vehicles have a driving range-per-charge between 50 to 330 miles, with some even exceeding 400. Between increasing access to charging stations and larger batteries, there’s less anxiety overall about losing your charge. However, some conditions, including hot and cold weather and how you drive, may impact the range of electric and hybrid vehicles. Typically, hybrid vehicles have an all-electric range of about 10-50 miles before the gasoline kicks in.
Recharging Duration - The time it takes to charge up an electric vehicle varies widely, but one thing’s for sure: it takes longer than pumping your vehicle with gasoline. It can take around 30 minutes, but it could also take over 12 hours. This means you’ll have to plan your trips and charge accordingly.
So… Are Electric Vehicles & Hybrids the Future?
Electric/hybrid vehicles have certainly gained more popularity over time. Perhaps as they continue to gain momentum, some factors like the upfront costs and charging time could be improved over time. One way or another, electric/hybrid vehicles are not in the majority yet, but who knows? Maybe they will be somewhere down the road (no pun intended). As it is, the Giovatto Agency specializes in automotive advertising. Whatever kind of inventory you’ve got, we advertise it and hit your target audience to achieve the ROI you’re looking for. Plus, we look into automotive trends so that your advertising is up to date based on the industry’s opportunities and challenges.
Get a jump start on the ever-evolving automotive industry with a strategic marketing plan right now. Contact the Giovatto Agency today for a free consultation!