Itís only a matter of time before gas prices rise. / Martin Klime/Chevrolet
If the notion of plugging your car into a socket rather than sucking away at a gas pump appeals, now might be a great time to consider buying a hybrid car.
For one thing, the playing field for hybrids is rather crowded, making it a buyerís market. Production in Japan has recovered from the earthquake last March, pushing up the supply of the Toyota Prius. Also, GM recently released thousands of demo Volts on the market even as the car is being investigated for battery fires and faulty plugs.
Another compelling reason is gas prices. With per-gallon costs hovering around $3.24 as of early January, many drivers may be less motivated to look for alternate energy sources, says Greg Anderson, managing editor of Yahoo Autos.
Thatís likely not going to last. Should gas move up toward $3.70 and beyond, demand for hybrids will probably spike. ďWith the price of crude over $100 per barrel, itís only a matter of time before gas prices increase, and with it, hybrid demand,Ē says Anderson. ďFor anyone seeking a deal on a hybrid right now, thatís good news.Ē