While recently shopping for a car for my wife Wendy, we just had to include the Toyota Prius in our list of possibilities. We had heard so much about this “wonder car,” that we simply had to see it for ourselves. So we visited the Toyota dealer (in fact, we visited a few Toyota dealers), got to kick the tires and drive the car.
While the car is rather small, the hybrid technology is most impressive. Clearly it represents a significant step toward increased fuel economy.
And given the high gas prices we’ve been experiencing this year, the Prius has become quite the hot item. The car is sold from a waiting list and is gone just as soon as it arrives at the dealer’s lot. In fact, the waiting list is some weeks long. Also, some (though not all) of the dealers in Southern California are charging a premium (of up to $5,000) for a new Prius. Want to buy a used Prius? Good luck finding one.
Seems to me that this is sort of a frenzy. I can’t help but wonder if, during this frenzy, some people who wouldn’t normally purchase a Prius are purchasing a Prius.
If I’m correct about this being a frenzy, then this frenzy, like all frenzies, will one day come to an end. And then what?
Well, quite a number of those who purchased a Prius will remain delighted with their purchase. But quite a number of those who were caught up in the frenzy will find that they’re driving a car which they’re really not so delighted with. In fact, I recently watched a news broadcast which included an interview with a young car buyer. This fellow, totally fed up with the high price of gas, had sold his Hummer and purchased a Prius.
Now let’s stop to think about that for a moment. Wouldn’t you agree that, here in America, our automobile is an extension of our own personality? And our lifestyle? And if that’s correct, then are we to believe that this fellow had so drastically changed his personality — from Hummer to Prius? I don’t believe that. In fact, I think that just as soon as this fellow recovers from the shock of high gas prices, he’ll again drive a Hummer (or some other very large auto).
OK, so when the frenzy ends, then what? Well, then we’ll have a whole bunch of new Prius for sale on the dealers’ lot. The waiting lists will be gone. And the premium prices will be gone. We’ll also have a whole bunch of used Prius for sale. And the prices for both new and used Prius will be lower.
And when might this frenzy come to an end – and the Prius thus become both more available and more affordable? I believe this will happen when the price of gas drops a bit more and then stabilizes for a few months. Likely during this coming winter.
In any event, if you’d like to buy a Prius, either new or used, wait a while.
Oh, by the way, Wendy bought a Toyota RAV4 SUV. It fits her life style a whole lot better than does a Prius. See what I mean?
