Remember only a few years ago when gas prices spiked, and the world rushed out to buy a Prius? Wait times were long, and those patient enough were rewarded with 40 mpg. This quote from automotive.com about the 2006 Prius:
“Two years out in the market, there’s still a months-long waiting line. Toyota has doubled production to meet demand, so be patient if you want your dose of 44 MPG.”
Of course, memories fade and we have all enjoyed 10 months of cheap gas to fuel our 20 mpg cars. Some people have noticed, however, that gas has increased over 30% in the last couple of weeks and more jumps in price are on the way. While experts claim that gas will not get close to $4 this summer, inflationary pressures that will lead to a falling dollar may prove otherwise. Either way, gas will increase in price in the future and with the majority of the electric and hybrid vehicle production lines in their infancy, wait times will be long for those who chose to move with the herd.
Smart customers are taking advantage of recession pricing and scooping up EV’s while the buyers market and relatively cheap gas is keeping pricing and wait times in check.
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