Besides, how would I ever calculate a payback when I have no idea what gasoline will cost in the future?" A few said with apparent certainty, "one year" or "two years." However, when we inquired where the number came from, they simply asserted that they spent lots of money on gasoline and would quickly earn their money back through savings. A smaller group proposed longer terms -- eight to ten years -- noting that they keep their cars for a long time. Several households explained that their lack of attention to gas costs was due to the fact that they felt they couldn't do anything about it; they had to drive as much as they did to lead the lives they had constructed for themselves." (Kurani, Turrentine, and Heffner, 2007)
Kurani, Turrentine, and Heffner state in regards to the choice of a hybrid vehicle that there have been a number of articles in the mainstream media and it has been noted as well by the automotive press "that the buyers of hybrids do not make the extra cost of their vehicles back through gas savings. These articles contended that hybrid vehicles cost $2,000 to $3,000 more than vehicles of similar size and power. Our small group of hybrid vehicle buyers confessed they had never thought of or calculated a payback when they bought their hybrid. In fact, these people surprised us with how little attention they paid to fuel costs. They did pay a lot of attention to fuel economy. Drivers of hybrids confessed that they watched their fuel economy gauges compulsively. But none kept track of costs. They liked how much better their car's MPG was than other cars, and their gauges made them feel good about their vehicle choice. It turns out they bought hybrids mainly for ideological reasons, and not to save money." (2007)
Kurani, Turrentine, and Heffner report being surprised by these findings so they designed a follow-up study to examine a larger group of hybrid buyers as they state they wanted to "...get a better sense of what motivated purchases of the highest fuel economy vehicles on the market. We built on what we learned from the first study: that consumers look to the media, to experts, and to other consumers to help them decide what to do. Their decisions around cars, fuel economy, and hybrid vehicles drew on social awareness, but not on calculations. They saw the price of gasoline posted at every gasoline station. They listened to reporters talk about gasoline prices on the news. They talked about cars with friends at church or work." (Kurani, Turrentine, and Heffner, 2007)
The findings in the second study state that "decisions about fuel economy were governed more by emotions than by analysis, more by what fuel economy means that by its monetary value." In fact, findings show that in the months prior to the purchase of a hybrid that the buyers were thinking and conversing about the costs of gasoline as well as about new technologies, the security of the nation and the future and environment. When these individuals went to purchase their car comparison shopping against other fuel-efficient compact cars did not take place and the hybrid buyers participating in the study "were more likely to have only one vehicle in their choice set: the particular hybrid they bought." (Kurani, Turrentine, and Heffner, 2007)
It is reported that these individuals were more likely to be "replacing a pick-up truck, SUV, or high-priced luxury car than a small economy sedan. And they often described the decision to buy a hybrid as an exciting moment of commitment to a new set of values." (Kurani, Turrentine, and Heffner, 2007) in the event that fuel economy was spoken of by a hybrid buyer it is stated that it was "usually an aesthetic value rather than a financial one, experienced through their new fuel economy gauges. Some hybrid drivers can watch their vehicle's fuel economy minute-to-minute. One young man talked about the great pleasure he received from checking his fuel economy gauges at the end of a trip and seeing "what a good job" he did. Most of our hybrid buyers mentioned how much less often they refuel and even how much they are spending per fill-up. But they are no more likely than other drivers in our previous study to calculate costs over time. Some hybrid buyers are concerned about costs, but the costs are more symbolic than calculated, and are rooted in a buyer's attempt to look financially smart to themselves, friends, family members, and coworkers." (Kurani, Turrentine, and Heffner, 2007)
Conclusions...
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