What Makes a Hybrid Owner Tick?

By Dan Hall

March 26, 2008

What Makes a Hybrid Owner Tick?

AutoPacific forecasts that the current hybrid market will balloon by 40 additional models in the next 60 months. With so many new models entering the marketplace, it makes sense to look at what is drawing current buyers to hybrid vehicles. Will consumers demand 40 more models to meet their needs?

Hybrid versus Non-Hybrid Owners

On the surface, owners of hybrid vehicles aren't much different than the rest of the car buying population. Age, marital status and household makeup are nearly identical. The biggest demographic difference is level of college education: 66% of hybrid buyers have a college degree or greater, compared to 48% of non-hybrid owners. While fuel economy and overall cost of ownership is important to hybrid buyers, it's likely not for economic reasons. As a group they have a greater income ($118,000 vs. $102,000) and do not cite fuel prices as being any more of a problem for them than for the rest of the population.

Most Important Attributes in the Purchase Decision

Not surprisingly, 92% of hybrid buyers rated fuel economy as very or extremely important. This compares with 69% for the rest of new vehicle buyers. In addition, 27% of hybrid owners agreed that fuel economy was the most important attribute in the purchase of their vehicle. This completely eclipses the 5% figure for non-hybrid buyers.

Views on Driving

Another significant difference between hybrid and non-hybrid owners is in the way they think about driving versus owning a vehicle. 36% of hybrid owners would drive less if there were good public transportation, compared to 22% of non-hybrid owners. Only 11% follow auto racing compared to 24% of non-hybrid buyers. With respect to owning a vehicle, 80% of hybrid owners rated operating costs as very or extremely important, compared to 67% of non-hybrid owners.

In addition, 73% felt innovative technology was important versus 56%. In a data point new to the automotive space, 39% felt that their vehicle makes a political statement. What does all this mean? Hybrid owners illustrate a different view of the act of driving versus the act of owning a vehicle. They value the perception that their vehicles make a political statement, has innovative technology and a lower cost of ownership. The act of driving could be replaced by public transportation for many. In essence, their vehicles play the role of a tool, more then toys.

Next Vehicle

Among owners, hybrid technology appears to be a hit: 65% say that they would like a hybrid gas/electric engine in their next vehicle. However, growth of hybrid powertrains will depend heavily upon winning over non-owners. While 40 more models on the horizon is a lot, there seems to be momentum with current owners, and it's not just driven by fuel economy. Will this enthusiasm continue to win over new customers? Stay tuned - AutoPacific's 2008 Future Vehicle Study is in the field and will dig deeper into the minds of hybrid owners, measuring more data points on consumer reaction to alternative fuels, driving and the environment.

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