CAMBRIDGE, Mass.--(BUSINESS WIRE)--
CarGurus (www.cargurus.com), the automotive research and shopping site, today released a study comparing regional demand for used hybrid vehicles.
The data is clear: West Coasters lead the nation in terms of interest in buying used “green” cars. San Jose, San Francisco, Portland, Los Angeles and Seattle top the list of cities with the highest percentage of shopper purchase inquiries on used hybrid car listings. San Francisco also shows the greatest availability of “green” car inventory, with hybrids accounting for 11% of available used car inventory (nationwide, hybrid vehicles account for approximately 3% of available used car listings).
As for the cities where shoppers show the least demand for used hybrid vehicles, Detroit tops the list, followed by Virginia Beach, Pittsburgh, New Orleans and Cincinnati. New Orleans has the lowest inventory of used hybrids, showing less than 1% of total available used car listings as hybrids.
Across all regions, the most popular used hybrid vehicle is the Toyota Prius. Twenty-six percent (26%) of all consumer purchase inquiries on used hybrid car listings were for the Toyota Prius.
“Nearly twenty years since the introduction of the Toyota Prius, the market for used hybrids is hitting its stride, and that’s good for consumers looking to save some green on a green car purchase,” said Langley Steinert, founder and CEO of CarGurus. “Wherever they may be shopping for a used hybrid, we advise shoppers to do their homework on price and vehicle history. Once they have found the deal that is right for them, they should get it inspected by a certified mechanic before purchase.”
To view the full list of metro areas ranked by shopper purchase interest in used hybrid vehicles, click here: http://www.cargurus.com/press/assets/GreenCities.pdf.
Below are highlights:
Cities with Highest Demand for Used Hybrid Vehicles
1. San Jose, CA
2. San Francisco, CA
3. Portland, OR
4. Los Angeles, CA
5. Seattle, WA
Cities with Lowest Demand for Used Hybrid Vehicles
1. Detroit, MI
2. Virginia Beach, VA
3. Pittsburgh, PA
4. New Orleans, LA
5. Cincinnati, OH
For this study, CarGurus analyzed consumer purchase inquiries on listings appearing on www.CarGurus.com between February 10, 2014, and April 10, 2014, measuring the percentage of overall inquiries that were for used hybrid vehicle listings in each of the top U.S. metro areas. Metro areas were ranked according to these percentages. Hybrid availability was measured by the percentage of used car listings available in April that were hybrid vehicles. CarGurus analyzes more than 4 million car listings daily from independent and franchise dealerships.
With 10 million unique monthly visitors, www.CarGurus.com is the fastest growing automotive research and shopping website in the nation. The company uses proprietary search algorithms to help shoppers compare local listings and find great deals from great dealers. Every day, the company does a comprehensive Instant Market Value (IMV) analysis on more than 4 million listings, taking into account details including year, model, trim, options, mileage, location and vehicle history. A user’s shopping search results are ranked according to which offer the best deals from the most reputable dealerships.
CarGurus was founded in 2006 by Langley Steinert, co-founder and former Chairman of TripAdvisor, and is based in Cambridge, MA.
CarGurus now has an app! To download or learn more, click here: http://www.cargurus.com/Cars/mobile.html.
- Personal Finance - Lifestyle
- Automotive Industry
- hybrid vehicles
Kristina Markos, 781-449-3244