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25th April 2006

A Wall Street Journal Online/Harris Interactive Personal Finance Poll shows that one-third (33%) of American adults who plan to purchase or lease a new vehicle say they are most likely to seriously consider an alternative-fuel vehicle for their next purchase. Most (92%) of these adults are willing to pay more for it than a traditional, gasoline-powered version of the same vehicle. The top reasons for considering an alternative-fuel vehicle include concerns for the environment and the cost of fuel. The survey also explores how consumers plan to pay for their next new vehicle, and what financial factors are most important to them when making their next new vehicle purchase.

The online survey of 2,516 U.S. adults was conducted by Harris Interactive between April 4 and 6, 2006 for The Wall Street Journal Online's Personal Journal Edition.

Almost three in five (58%) adults plan on purchasing a new vehicle, and while 37 percent say they are most likely to seriously consider a traditional, gas vehicle, many say they will seriously consider a hybrid (25%), ethanol (7%), or diesel (2%) vehicle.

Only 8% of adults who will likely consider an alternative-fuel vehicle say they would not be willing to pay a penny more for a vehicle that runs on an alternative fuel over a traditional, gasoline-powered version of the same vehicle. Among those who are willing to pay extra, the average amount willing to be paid is $9,258.

Among those who say they would seriously consider a vehicle that runs on alternative fuel, almost half (47%) say their main reason for doing this is because it is better for the environment. Another 45% say their main motive is because their fuel costs will be lower. Substantially fewer adults cite the fact that they can take advantage of the Federal Clean-Fuel Tax Deduction (3%) and that they will be able to drive in High Occupancy Vehicle (H.O.V.) and car pool lanes (1%) as their most important reason.