Lately, gasoline prices have been headed in a favorable direction: Down. But over the last several years — especially in states like California and New York — we’ve seen gas prices walk a line that many U.S. drivers have found angering and nearly unacceptable. In order to counter the effects of higher gasoline prices, automakers have introduced hybrid technology. But is it worth it? Do drivers of hybrid vehicles really benefit from this added technology? The folks at MojoMotors.com, a website designed to track vehicles and price drops at car dealerships, shed some light on how far customers have to drive in order to recoup the premium paid for the hybrid option rather than the standard model. [keep reading]
We already let you find out if buying a hybrid car is worth it and it got us thinking. Hybrid technology has been available for decades but it wasn’t until gas prices spiked in the mid 2000’s that they really grew in popularity. Despite becoming more popular on roadways, hybrids have yet to dominate American engine bays like the internal combustion engine. Why is that? Is it their asking price which can be 20% higher than a non-hybrid? Is it fluctuating gas prices?
We wanted to find out. Using monthly data from January 2013 through June 2014, we tracked the ‘Follows’ on hybrids and other vehicles received as a percentage of total follows on Mojo Motors. We used follows as the metric for activity since shoppers that follow cars want alerts when dealers drop prices. [keep reading]
The first full work week of March begins today with it comes rising gas prices.