Now Is A Great Time To Buy That Electric Or Hybrid Car



According to TrueCar, now is the time to get your best deal on an electric or hybrid car. “Fuel savings are not top of mind to many consumers right now, and that makes this a great time to buy a hybrid or electric vehicle,” said John Krafcik, president of TrueCar. “With gasoline prices now averaging just $2.10 per gallon, and vehicle preferences tied so closely to short-term gasoline prices, automakers are heavily discounting their most fuel-efficient cars to clear inventories.”

For example, buyers of the electric Ford Focus can get 16% off the MSRP right now, and Prius buyers can save 10% off that car’s $25,025 sticker price. Thanks to the plunge in gasoline prices, interest in high mileage, eco-friendly vehicles is waning and manufacturers are having to discount their inventory to move those cars off dealers’ lots.

“Gasoline prices and vehicle type preferences are strongly related, and this relationship is cyclical in nature,” said Krafcik. “Fuel is relatively inexpensive right now, but when the pendulum swings the other way it will make future alternative fuel vehicles more appealing.”

While low prices are good for consumers, they are not necessarily good for the environment. Even though the world is awash in cheap oil right now, should we be content to celebrate like there’s no tomorrow? Should consumers demand that GM start producing its ginormous, gas sucking HUMMER behemoths again?

Say what you will about governments and regulations, we car buyers now have the ability to buy some of the cleanest burning, most efficient vehicles in history. Today’s cars have fewer greenhouse gas emissions than the trusty horses our grandparents relied upon. Emissions and gas mileage standards are not going to be relaxed even if gas is free. The world simply can’t afford to party like it’s 1999.

Remember, this is Gas 2.0, where our motto is “Burn rubber, not gasoline.” We are all about a future fueled by clean, renewable energy. Cars that offer an alternative to gasoline are coming, ready or not. BMW just announced that it is retooling its entire fleet of cars from 3 Series sedans to every Rolls Royce to run on electric power exclusively. What internal combustion engines they have will perform range extender duty only.

So what should low gas prices mean to you? Only that you should use this opportunity to trade in the old family bus on a modern, high efficiency automobile and save some cash at the same time. That’s the smart thing to do.

About the Author

I have been a car nut since the days when Rob Walker and Henry N. Manney, III graced the pages of Road & Track. Today, I use my trusty Miata for TSD rallies and occasional track days at Lime Rock and Watkins Glen. If it moves on wheels, I'm interested in it. Please follow me on Google + and Twitter.
  • Carney3

    Problem is that the industry is poised to release new longer range EVs – Tesla Model 3, Chevy Bolt, updated Nissan Leaf – within a few years, in other words during the timeframe when someone who buys today would still be making payments on what by then would be an outdated car.

    • zn

      Perhaps true, but once those new models come out they’re going to make ICE cars looks even more outdated. Plus, by that time the price of oil will almost certainly have risen again, making an ICE car an even less promising buy. Trading in now when oil is cheap makes more sense than trading in in three years when oil will be expensive and electric cars cheaper/better.

    • FunFact: this is “true” of just about every major purchase, so … I guess you either have to get over it (as most do), or wait forever and never buy anything (as, maybe, you do- based on your argument).