293% Increase in Searches for Alternate Fuels and Hybrid Automotive
Consumers react to $1.40 Fuel Price 'Pressure Point'

Melbourne – 8 August , 2008 - Hitwise, the leading online competitive intelligence service, today revealed that when fuel prices break through the $1.40 per litre, Australian online searches on alternate fuels and hybrid automotive technology increases sharply.

To make this correlation Hitwise took the median average of monthly Metropolitan ULP prices (source: www.fueltrac.com.au) and compared it against the 4 week rolling average of a custom portfolio of 974 alternate fuels and hybrid automotive related search terms such as 'electric car', 'hybrid cars' and 'hydrogen car'.  Trend lines rise and fall in sequence until the price moves through the pressure point of $1.40, where the volume of searches then surge as households are put under increasing financial pressure.

Alan Long, Research Director of Hitwise said, "It seems that consumers have been desensitised to the increases in fuel prices until it hit the 'pressure point' of $1.40 per litre, and in conjunction with increased pressure on mortgages, consumers are looking for ways to minimise their exposure to continued high fuel prices."

Compared to February 2008 when the median fuel price was last below $1.40 the volume of searches on alternate fuels and hybrid automotive increased 293% in June 2008.

Honda and Toyota top of mind with consumers

The prominence of automotive brand and product names in the search terms used by Australian Internet users provides an insight about the level of brand awareness within the alternate fuel and hybrid cars interest group. A total of 32 brands featured including international brands such as Tesla and Chevrolet. Branded terms made up a total of 22% of the search term portfolio.

Long said "Honda and Toyota have been able to gain a strong identity with a product range that includes hybrid technologies, and with the increased pressure at the fuel pump, they will no doubt benefit in sales, not just consumer sentiment."