Hybrid Cars Continue to Reap Green Rewards for Consumers

October 30, 2006

Mintel Comperemedia Identifies Innovative Campaigns Designed to Attract and Save “True Green” Auto DollarsChicago (October 30, 2006)- The environmental ” green ” movement is growing, and hybrid and fuel-efficient vehicle manufacturers are reaping the benefits. With the green products market estimated in a recent Mintel report at $500 billion last year and gas prices setting records during the summer months, more consumers have turned to hybrid technology as an increasingly viable option. The Mintel report also reveals that approximately 35 million Americans are ” True Greens ” who regularly buy green products, including environmentally friendly vehicles. Hybrid cars continue to capitalize on this growing green popularity, with help from manufacturers and other companies.According to Mintel Comperemedia, a competitive intelligence service that analyzes direct mail and print media, several types of companies provide rewards for purchasing hybrid vehicles. The first insurance company to debut a discount program, Travelers, began offering a 10 percent discount for hybrid owners earlier this year. Farmers Insurance followed suit with its own green program, offering 5 or 10 percent discounts, depending on the state. Several smaller companies are also offering their own discounts, on a state-by-state basis. Bank of America and Google Inc. both implemented employee programs to aid in hybrid vehicle purchases. Bank of America matches a federal tax credit for purchasing the vehicles, and Google Inc. provides a credit for either purchasing or leasing fuel-efficient vehicles.

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