"The study is designed to help OEMs and suppliers get a better understanding of how powertrain-related features drive consumers to make vehicle purchase decisions and favor certain vehicles over others," said Bryan Krulikowski, Morpace Vice President, Automotive.
The study provides OEMs and suppliers with information on what consumers are willing to pay for certain technologies and what their expectations are. In some cases, the study shows that consumers are likely to spend less than the cost of the technology required to achieve maximum improvements in fuel economy.
"There is uncertainty about the value of some alternative energy technologies among consumers," said Krulikowski. "But improved fuel economy is certainly desired and will impact their purchase decisions."
Other PACE findings:
- Cost-related issues—including initial up-front purchase price and maintenance costs—are identified as reasons why many consumers have concerns about purchasing vehicles with alternative powertrain technologies.
- The cost of diesel fuel is the greatest barrier to consideration of Clean Diesel engines.
- Aside from cost concerns, driving range and ability to recharge leads the list of concerns for electric vehicles.
- Sub-compact and compact car owners are most satisfied with their current vehicle's fuel economy, and realize more miles per gallon than originally expected.
- 18% percent of owners are very interested in hybrid electric vehicles (HEVs), with compact car and small SUV owners rating HEVs highest.
"While many consumers understand the benefits of battery-powered vehicles, challenges remain to convince consumers to adopt these technologies," Krulikowski said.
A total of 3,269 consumers were surveyed May 6-13 as part of the PACE research.
