What Lower Gas Prices Mean for Hybrids and EVs

Hybrids and EVs had experienced a nice boost in sales because of how high gas prices had risen. As gas prices started to steadily decrease last year, consumers resorted to old shopping habits and sales of trucks and crossovers started to pick up again. Though gas prices have slightly increased, consumers are still looking for bigger vehicles to accommodate their need for space.

A recent Chicago Tribune article mentioned how, even after President Obama’s urging and incentives for sales of hybrids and EVs, consumers are attracted to roomier options like crossover SUVs. Lower gas prices play a big role in swaying consumers’ buying options, as most of those purchasing cars are older Millennials.

Though President Obama cautions that gas prices won’t stay low forever, Americans have taken their steady low prices as a sign to get into bigger cars. Americans’ need for roomier, more comfortable cars coupled with the lower gas prices has made hybrids and EVs less attractive. What’s more, as the economy also recuperates and consumers are more confident in their buying power, bigger cars are more attractive.

For drivers who are currently looking for crossover SUVs or are looking to get out of their EV lease, Swapalease.com offers the best solution. Why not have the car that you’ve always dreamed of having at a much more affordable price? By taking over the remainder of a lease, you get just that.

Swapalease.com allows drivers to list their current lease and helps match them with buyers looking to take over the remainder of that lease. Both parties get what they’re looking for. With gas prices as low as they are, it might be the perfect time to ride around in a crossover SUV for a very affordable price.

Headquartered in Cincinnati, Ohio, Swapalease.com is the world’s largest automotive lease marketplace and the pioneer in facilitating lease transfers online. For more information about Swapalease.com or how to exit your lease early, call 866-SWAPNOW or visit www.swapalease.com.

Drivers Not Rushing Into EV/Hybrid; Also Walking Away From Them

Gas prices have been on a steady decline and the automotive industry has taken notice. These declining prices haven’t only affected drivers’ pockets but have affected dealerships as well. The national gas price average for November 2014 is $2.96 compared to $3.24 in 2013. Why is this so important? Not only are consumers beginning to feel the economy continuing its recovery from the Great Recession but many are also taking this opportunity to get into bigger vehicles, such as trucks and SUVs.

It’s almost beginning to feel like 2005 all over again.

Electric (EV) and hybrid vehicle sales have steadily increased since 2012, reaching 88, 149 sales so far in 2014. However with falling gas prices, dealers have recently found it more difficult move these vehicles out of their lots and onto roads. More buyers are coming in to purchase that truck or SUV they wanted but opted not to get with high gas prices.

The demand for and sales of SUVs and trucks has grown 15% from October 2013. Electric vehicle and hybrid sales didn’t fare so well in October 2014. Sales for both Ford’s C-Max and Toyota’s Prius dropped, 22.5% and 13.5% respectively. Even on Swapalease.com, there has been an 11% increase in hybrid and electric vehicle listings compared to the same time last year.

A few of the most common hybrid and EV vehicle listings on Swapalease.com are the Toyota Prius, Chevrolet Volt, and Ford C-Max. The growing demand for trucks and SUVs, paired with the lower gas prices has also greatly affected the purchase price of hybrids and EVs with many manufacturers offering incentives. For individuals looking to get out of their car lease early, Swapalease.com is the perfect place for your listing, especially since demand to take over a short-term fuel-efficient vehicle hasn’t waned.

As Scot Hall, Swapalease.com EVP of Operations said, “Swapalease.com offers individuals with a new desire to drive a larger vehicle a great alternative because there is no credit harm in exiting their smaller car lease early,” Hall also mentioned that transferring leases are beginning to feel like mobile phones, getting into the next best thing as soon as it comes out and whenever we feel like it.

Headquartered in Cincinnati, Ohio, Swapalease.com is the world’s largest automotive lease marketplace and the pioneer in facilitating lease transfers online. For more information about Swapalease.com or how to exit your lease early, call 866-SWAPNOW or visit Swapalease.com.

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