Consumers are looking for more control in their lives and driving a vehicle with ultra-high fuel efficiency and low cost helps insulate them from the volatility they face at the pump. Elio is creating an entirely new vehicle class to meet this demand.
Phoenix, Arizona (PRWEB) August 06, 2014
The majority of highly fuel efficient vehicles on the road today come from import brands, but that’s a trend Paul Elio, CEO of Elio Motors, hopes to reverse when he launches an American-made vehicle in 2015 that will get 84 MPG and retail for $6,800.
According to Experian Automotive’s AutoCount Vehicles In OperationSM (VIO) database, the number of economy cars from domestic manufacturers has dropped in the past two years. In Q1 2012, there were 10.4 million economy cars in operation from domestic manufacturers. In Q1 2014, that number dropped to 9.9 million. By contrast, import brands accounted for 11.9 million economy cars in Q1 2012 and 12.8 million economy cars in Q1 2014.
With gas prices hovering around $4 per gallon, it is more important than ever for domestic manufacturers to make a profitable, fuel efficient vehicle. Fortunately, help is on the way from Elio Motors. The company’s prototype vehicle is currently on a 33-city nationwide tour and it has clearly struck a chord with consumers, who are weary of high gas prices and fearful of global political issues that could keep the fuel market volatile in the coming months. Nearly 25,000 people have already made reservations to get a place in line to purchase an Elio.
“Every day, people turn on the news and see turmoil in the Middle East, which could have a direct impact on their pocket book,” said Paul Elio, CEO of Elio Motors. “Consumers are looking for more control in their lives and driving a vehicle with ultra-high fuel efficiency and low cost helps insulate them from the volatility they face at the pump. Elio Motors is creating an entirely new vehicle class to meet this demand.”
With gas at $4 per gallon, it costs $2,600 to drive 15,000 miles in a vehicle with average fuel efficiency. Driving the same distance in an Elio at $4 per gallon will cost just $715, according to the company’s calculations.
Of course, millions of vehicles on the road today get significantly lower than average fuel efficiency. Most of these “clunkers” are low-cost vehicles owned by people who don’t believe a new vehicle is within their price range. For these consumers, Elio Motors will be a true game changer. Instead of driving an unreliable, low-mileage vehicle, “clunker” owners will now be able to afford a new vehicle that costs four times less to operate and comes with a three-year, 36,000 mile warranty.
“High vehicle costs, high operating costs and high maintenance costs drag down the affordability of most used vehicles,” Elio said. “We are providing our own version of Cash for Clunkers that will help get many of these vehicles off the road. If we hit our sales target of 250,000 annually for five years, we will reduce fuel consumption by 0.35 percent. That’s significant.”
About Elio Motors: Founded by car enthusiast Paul Elio in 2008, Elio Motors Inc. represents a revolutionary approach to manufacturing an ultra-high-mileage vehicle. The 3-wheeled Elio is engineered to attain a highway mileage rating of 84 mpg while providing the comfort of amenities such as power windows, power door lock and air conditioning, accompanied by the safety of multiple air bags and an aerodynamic, enclosed vehicle body. Elio’s first manufacturing site will be in Shreveport, La., with plans for the first production vehicle to roll off the assembly line in 2015 and significant production, sales and distribution during the next two years. For more information, visit http://www.eliomotors.com or http://www.facebook.com/ElioMotors.