by Sumaa Tekur
The world is driving, slowly, toward better fuel efficiency. Vehicle fuel needs may well be cut in half by 2030 if existing technologies are adopted, according to the International Energy Agency. That’s despite the fact that the number of vehicles will double by 2050 (Businessweek.com, 19 September 2012).
The US government, in August, finalized regulations to get automakers to manufacture vehicles that offer double the mileage they do now. India plans to make it mandatory for carmakers to improve mileage by 20% in all new vehicles by 2020. The EU is publishing proposals to cut carbon emissions from new cars by 2020.
Consumers, of course, are usually happiest when they don’t have to spend too much at the gas station. Most car brands will be focusing on giving consumers a choice of cars with gasoline power, full hybrid or plug-in hybrid.
Implications for Marketers
Fuel prices are not dropping anytime soon. Consumers’ main concern when on a drive is that their vehicle make the most of the fuel in the tank. Set the right expectations by giving consumers a realistic idea of how many kilometers/miles the car can run per liter/gallon. Should the AC be on or off to get this mileage?
Can consumers expect to get this mileage in city traffic conditions? Making and selling fuel-efficient cars is no longer only about corporate social responsibility but also about giving consumers greater control over their money and more freedom to drive — without having to constantly calculate mileage and cost.