Over the past ten years, the cost of gasoline has grown 250%! The price of oil has doubled since January of this year. The high prices of oil and gas is the driving factor for most of the people to trade their gas powered vehicles for hybrid vehicles. These vehicles promise to give consumers more mileage per gallon, the truth is that only a few vehicles currently in the market actually make any sort of financial sense. There are quite a few issues with buying hybrid vehicles, even with gas prices at more than $4 a gallon.
The forecasts that I would use for these indicators are www.federalreserve.gov, www.cbo.gov and www.mbaa.org. These economic forecasts can be used to predict future demands. Due to the constant rise in gas prices, Hybrid cars have become a hot item in today's economy. Although the Hybrid cars are more expensive than the conventional cars the rapid increase in gasoline prices will allow the consumer to make up the difference and save money by having to make fewer trips to the gas pump.
So Honda and Toyota increases the resale prices. So if people are... ... middle of paper ... ...sive to buy at first, but hybrid cars will save them a lot of money on gas. Overtime the amount they will be saving will show and they will be surprise once they compare how much they saved to how much money they would have used on a normal car. Even though they are expensive, they are much better for the environment. With everyone driving regular cars it is killing the atmosphere, but if everyone get hybrids that will lessen the damage by a ton.
Because the average mile per gallon in America is 22, the Prius is untouchable in the race to save money on gas. Therefore, by buying a hybrid car, the average American would save $1,073 annually. To some people this is not a big deal, but it cuts the amount of a regular car completely in half. Not only does the hybrid present greater fuel efficiency and less money, it reduces the amount of ga... ... middle of paper ... ...dies have shown that the carbon dioxide concentration has risen from 320 PPM to 400 PPM and is still on the rise. The proof that pollution is causing global warming comes from the evidence of Al Gores’s research, “the average temperatures in the Arctic region are rising twice as fast as they are elsewhere in the world.
The first concerns about auto emissions reestablished interest in electric vehicles. From then on, car companies strive to make better fuel efficient cars and hybrids. From the 1960s to now there has been major improvements in the technology of the hybrid car. Some improvements include the phase out of the NiCad battery. up until 2010, every hybrid vehicle operates using a Nickel-Cadmium battery pack to store power for its electric motor.
Other fuel-efficient vehicles, such as BMW’s MINI Cooper, also enjoyed soaring demand. Meanwhile, sales of heavy SUVs lagged miserably, and automakers such as Chevy, Hummer and Cadillac offered unprecedented dealer incentives and rebates in an effort to move these vehicles, Land Rover Range Rover has increased due to efficient newly designed models as shown from the stats below.
For example, the diesel 2011 Volkswagen Jetta will cost $1,725 annually; while its gasoline counterpart will cost $2,118 annually (Mello, Tara Baukus).One gallon of diesel contains approximately 147,000 BTUs of energy, while a gallon of gasoline only has 125,000 BTUs. This means it takes more gasoline to equal the power output of diesel, making diesel engines more efficient per gallon of fuel burned (Schifsky, Chuck). Not only is the diesel fuel more efficient that gasoline but because of the direct injection of diesel motors there is little wasted energy as compared to gasoline engines. With cars becoming more and more expensive many ... ... middle of paper ... ... and industry and helps the economy as well. Biodiesel has created over fifty thousand jobs and has provided billions of dollars to the GDP of America (Biodiesel Basics).
Past statistics tell the story of when fuel prices surge, smaller fuel efficient cars are more in demand. Higher fuel prices cause households to reallocate money from other areas to purchase fuels at higher prices because fuel is needed for transportation to and from work. When fuel p... ... middle of paper ... ...lopment far exceeds any other industry in the United States. (McAlinden et al., 2003) There is no doubt that the United States depends heavily on the automotive industry. The economy has always responded to the fluctuations of the automotive industry as well as the automotive industry responding to the economy.
Environmental Challenges in American Auto University of the People The American auto industry has grown due to job gains, lower gasoline prices, and available credit to the customers. More people have been willing to take out loans to buy cars. (O’Leary, 2014). With an already large and continuously changing industry, the American auto industry faces some environmental challenges. Cars and trucks make up about one-fifth of all global warming emissions in the United States.
Gasoline prices of approximately $2.00 per gallon started taking a huge bite out of family budgets in 2004, and many middle-class consumers who owned fuel guzzling SUVs and pickup trucks began to wish they had vehicles that were much less expensive to operate. By 2005-2006, with gasoline prices in the $3.00 range, the party was over for traditional, large SUVs. While gasoline prices moderated during much of 2007, they were still in the $2.70 range in most markets. One result was the phenomenal demand for Toyota's Prius hybrid car. Toyota responded by raising the price and planning production increases.