Are low gas prices causing a temporary surge in the purchase of gas-guzzling SUVs?
According to a report by the automotive research team at Edmunds, the answer is likely yes.
Edmunds found that nearly one-fifth of hybrid and electric drivers traded their fuel-efficient cars in for sport-utility vehicles, up from 18.8 percent during the same period in 2014 and 12 percent in 2012. The trend is in line with the rebouding market share of SUVs, although Edmunds did not disclose which SUVs were the trade-in vehicles.
Gas prices are nearly $1 less per gallon across the nation this year, compared to the same time last year, according to GasBuddy. Plug-in hybrids, like the BMW i8 shown above, are growing in popularity among manufacturers' offerings, but are still selling in small numbers.