Gas price fallout: People trading in hybrids for SUVs

In the first quarter of 2015, new hybrid car sales was only 2.7% of the market. That's down from 3.3% in the same period last year.

Peter Valdes-dapena - CNN - April 22, 2015

George Santayana: "Those who cannot remember the past are condemned to repeat it." --Ed.

With gas prices low, more people are trading in their hybrid and electric cars for purely gasoline-powered vehicles, including SUVs.

So far this year, only 45% of people that traded in an environmentally-friendly hybrid car purchased another, according statisticians at Edmunds.com. In 2012, that figure was over 60% and this is the first time it has ever fallen below 50%.

"For better or worse, it looks like many hybrid and EV owners are driven more by financial motives rather than a responsibility to the environment," Edmunds.com Director of Industry Analysis Jessica Caldwell said in a statement. ... [Read More]

Gas price fallout: People trading in hybrids for SUVs