Most won't pay more for environmentally friendly cars, study shows

Jan. 1, 2020

One company is looking into why the majority of drivers still aren't willing to pay more for a greener vehicle, and will present some findings during the SAE World Congress.

One company is looking into why the majority of drivers still aren’t willing to pay more for a greener vehicle, and will present some findings during the SAE World Congress.

Despite just six months ago paying the highest gasoline prices in U.S. history, only 1 in 10 Americans would be willing today to pay more for an environmentally friendly vehicle, notes Alexander Edwards, president of automotive research for Strategic Vision, Inc. Strategic Vision is a company of clinical psychologists and business professionals with more than 30 years of experience studying how and why consumers make buying decisions and the factors that drive owner satisfaction and loyalty.

Edwards is a featured panelist on a forum entitled "Does Green Matter in a Try-to-Survive Market?" on April 21 at the World Congress.

According to Strategic Vision research, out of 124 attributes cited by consumers for their next vehicle purchase, overall environmental friendliness of the vehicle ranked 53rd, emissions controls ranked 87th, fuel economy/good mileage ranked 120th and fuel efficiency ranked last at 124th.

Despite the low rankings for fuel efficiency and environmental friendliness on consumers' list of importance, Edwards asserts there remains opportunity for automobile OEMs to market green vehicles.

"When customers do not have to compromise on styling, room, power and price to obtain the best fuel economy and environmental friendliness in class, they will make the 'smart, green choice'," he adds.

Also on the panel are Scott Miller, chief executive officer of Synovate Motoresearch, and Paul Taylor, Ph.D., chief economist for the National Automobile Dealers Association (NADA). The session will be moderated by Steve Millstein, president of ATX Group.