Higher fuel prices and the the economic downturn are boosting interest in hybrids. By BCA’s Tim Naylor.
Our latest vehicle auction data reveals that higher fuel prices and the effects of the economic downturn are continuing to boost interest in alternative fuels such as hybrid cars.
New data shows that average values for eco- and alternative fuelled cars continue to outperform the rest of the market. These include the Toyota Prius (pictured), the Honda Civic IMA and LPG-fuelled cars such as the Vauxhall Vectra Bi-Fuel.
The key issue for ‘green’, alternative fuelled cars is acceptability. Because they will drive the demand in the used market.
It would appear demand is continuing to rise. Because average values for hybrid/electric and LPG powered cars are well ahead of market expectations. The few examples BCA handles always attract a flurry of bidding.
Values from the latest BCA’s Pulse report for September show that the small number of alternative fuelled vehicles entered for sale by fleet operators are attracting prices up to 122% of guide prices.
In comparison, the average fleet values for petrol and diesel are currently around 92% of guide prices.
Demand is actually increasing for hybrid electric/petrol cars such as the Honda Civic and Toyota Prius. Volumes sold at BCA have overtaken those of petrol/LPG cars – although numbers remain small.
These hybrid electric/petrol models are definitely the flavour of the moment. Because there are no issues over fuel availability. Motorists have already seen a variety of alternative fuels heralded as the answer to global warming and are understandably wary of making the ‘wrong’ choice in terms of support and infrastructure – after all, just where do you go to get LPG these days?
Many UK businesses are changing to cope with the tougher economic conditions. Almost as an aside, many of these changes will also benefit the environment by leading to greener motoring choices.
Typical alternative fuel prices
- 0454, Honda Civic 1.3 VTEC Executive IMA 4dr, 55K, L4,150
- 0808, Honda Civic 1.4 I-DSI ES IMA 4dr, 4K, L14,250
- 0606, Toyota Prius 1.5 VVTI T4 5dr, 42K, L9,250
- 0505, Toyota Prius 1.5 VVTI Spirit 5dr, 80K, L8,250
Table shows year and plate (ie 2004 on a 54 plate); model; number of miles (ie 55K = 55,000 miles), and price achieved.
Source: BCA Pulse Report.
Want to know more about hybrids?
- For more on hybrids, read What is a hybrid?
