Hybrid Cars
Lola Andrews
May 12, 2010
SP2010-ECON-201-906I Principles of Microeconomics
Final Project-Hybrid Cars
Product: The #1 selling hybrid is the Toyota Prius Hybrid. Toyota is already on its third generation of the Prius. The gas/electric Prius hybrid retains its lock on this category for the fifth straight year. Despite lots of new hybrid models, the Toyota Prius' 44 mpg (overall) is still the best in any five-passenger car. The interior is roomy and versatile, and the Prius has proven to be very reliable.
Other Hybrid cars include the Honda Insight Hybrid, Toyota Camry Hybrid; SUV’s include the Ford Escape Hybrid and the Chevrolet Equinox Hybrid. Luxury SUV’s included the Cadillac Escalade Hybrid and Lexus RX 400h.
Current hybrid cars can get up to 60 miles to the gallon on the highway. In addition to fuel economy, they boast lower emissions and depreciation than gasoline-powered cars. Environmentalists embrace hybrid cars as a solution to today's pollution problems. Despite tough economic times and a shrinking US vehicle market, demand for hybrids continues to outpace the overall market.
Price: The 2010 Toyota Hybrid price ranges from $22,800 - $28,070. Toyota sold 271 of its $US38, 000 Prius cars in China last year. Overall passenger-car sales in the nation totaled 10.3 million. Hybrid sales; as a percentage of all new car sales—are likely to remain flat from 2008 levels at about 2.5 percent. But considering the overall car market is shrinking in 2009, the total number of hybrid sales will drop to about 250,000. The Toyota Prius the third-generation version that debuted in January; will continue to be the biggest seller.
Compared to the Prius, the Honda Insight Hybrid price is $19,800 - $23,100. And the Toyota Camry hybrid sells for $26,400
Demand for good is elastic: The Toyota Prius Hybrid would be very elastic because we don't have to buy that brand of car - we have lots of substitutes such as the Honda Insight Hybrid or Ford Escape Hybrid.
May 12, 2010
SP2010-ECON-201-906I Principles of Microeconomics
Final Project-Hybrid Cars
Product: The #1 selling hybrid is the Toyota Prius Hybrid. Toyota is already on its third generation of the Prius. The gas/electric Prius hybrid retains its lock on this category for the fifth straight year. Despite lots of new hybrid models, the Toyota Prius' 44 mpg (overall) is still the best in any five-passenger car. The interior is roomy and versatile, and the Prius has proven to be very reliable.
Other Hybrid cars include the Honda Insight Hybrid, Toyota Camry Hybrid; SUV’s include the Ford Escape Hybrid and the Chevrolet Equinox Hybrid. Luxury SUV’s included the Cadillac Escalade Hybrid and Lexus RX 400h.
Current hybrid cars can get up to 60 miles to the gallon on the highway. In addition to fuel economy, they boast lower emissions and depreciation than gasoline-powered cars. Environmentalists embrace hybrid cars as a solution to today's pollution problems. Despite tough economic times and a shrinking US vehicle market, demand for hybrids continues to outpace the overall market.
Price: The 2010 Toyota Hybrid price ranges from $22,800 - $28,070. Toyota sold 271 of its $US38, 000 Prius cars in China last year. Overall passenger-car sales in the nation totaled 10.3 million. Hybrid sales; as a percentage of all new car sales—are likely to remain flat from 2008 levels at about 2.5 percent. But considering the overall car market is shrinking in 2009, the total number of hybrid sales will drop to about 250,000. The Toyota Prius the third-generation version that debuted in January; will continue to be the biggest seller.
Compared to the Prius, the Honda Insight Hybrid price is $19,800 - $23,100. And the Toyota Camry hybrid sells for $26,400
Demand for good is elastic: The Toyota Prius Hybrid would be very elastic because we don't have to buy that brand of car - we have lots of substitutes such as the Honda Insight Hybrid or Ford Escape Hybrid.