Eric Lyman: April 22, 2016

JUST IN TIME FOR EARTH DAY: 

THANKS TO LOW GAS PRICES AND AUTOMAKER INCENTIVES, IT IS EASY BEING GREEN

Eric-Lyman

Eric Lyman is vice president of industry insights for ALG and top industry analyst at ALG parent company TrueCar, Inc.

Earth Day is Friday, April 22 and thanks to low gas prices, state and federal rebate programs and automaker incentives, it’s easy for Americans to drive green. The average transaction prices for fuel efficient vehicles have dipped significantly.

Eric Lyman, VP of Industry Insights at TrueCar is available to discuss all the latest in green vehicles including the BMW i3 BEV, Chevrolet Spark, Bolt and Volt, Nissan Leaf, Fiat 500e, and Kia Soul Electric. The latest green vehicles that are coming to market include Toyota’s Prius Prime plug-in hybrid and the Hyundai IONIQ hybrid and plug-in models that recently debuted at the New York International Auto Show. Tesla’s Model 3, unveiled two weeks ago, has racked up more than 320,000 advance orders.

Previously, technology costs put hybrid, plug-in and all-electric vehicles out of reach for many consumers, even as strict CAFE standards require automakers to boost average MPG across the board. That’s created a need to boost incentives to jumpstart purchase consideration for highly fuel-efficient vehicles.

Not only are these cars easy on your wallet but they can contribute to individual carbon footprint reduction due to the highly efficient hybrid, plug-in or all-electric vehicles. Additionally, automakers have found ways to significantly improve MPG in gasoline-engine vehicles. When the fuel economy of a conventional gasoline model rises to an average of 25 MPG from 20 MPG that can reduce carbon emissions by *1.5 tons per year!

Your listeners will also be interested to learn that all-electric and plug-in hybrid cars purchased in or after 2010 may be eligible for a federal tax income credit up to $7500. The credit amount will vary based on the capacity of the battery used to power the vehicle. State or local incentives may also apply.

*Based on the annual U.S. average of 15,000 miles of driving.

More About Eric Lyman

Eric Lyman is vice president of industry insights for ALG and top industry analyst at ALG parent company TrueCar, Inc. In his role, Lyman oversees the consulting group and residual value forecast for ALG and provides thought leadership and data analysis for media and other external stakeholders for TrueCar. As a spokesperson for both organizations, Lyman uses a vast set of proprietary market data to analyze the dynamic and complex nature of the automotive industry.  Lyman’s insights support ALG and TrueCar’s product and market strategies.

 As a member of ALG’s management committee, Lyman works closely with the Analytics, Consulting and Residual Risk Analysis teams providing guidance on industry, economic and vehicle trends.

 Prior to his current role, Lyman has held multiple positions in the organization, including Managing Editor of ALG’s Residual Value Guidebook, the North American industry standard for future vehicle value expectations for the past 50 years.   He also served as Senior Manager of Consulting and Vice President of Residual Value Solutions.

 Lyman is a graduate of University of California at Santa Barbara. Off hours he can be found at various campgrounds and beaches in Southern California enjoying the outdoors with his family in their pop-top Volkswagen Campervan.

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