Car sales in the era of $50-a-barrel oil
Detroit is hosting its annual North American International Auto Show this week and next. There are a few new green offerings on display, such as a new version Chevy’s Volt and an Audi Diesel plug-in hybrid. But with the price of gas so low, many consumers have lost some of their enthusiasm for fuel-efficient vehicles.
Edmunds’ John O’Dell says as gas prices fell in the latter half of last year, truck and large SUVs sales ticked up and sales of smaller more fuel-efficient cars dropped slightly. But not all green cars were affected equally. O’Dell says consumers pulled back from hybrids, but electric cars remained popular with early adopters.
Ben Kallo, a senior research analyst at Robert W. Baird, says Teslas, in particular, have become an aspirational vehicle in the U.S., as BMW has been in the past.
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