Hybrid car owners in California can increase the value of their cars by $4000 and reserve the privilege of traveling in car pool lanes, even if there's only one person in the vehicle. How? The state has given out 85,000 stickers identifying eco-friendly vehicles. The sticker stays with the vehicle and increases resale value and gives drivers bonus incentives such as unrestricted car pool lane travel.
Implications - Owners must keep the sticker on their eco-friendly vehicle and cannot transfer it to a different car. The people that got their stickers are lucky because the California DMV states that they are "no longer accepting applications from Toyota Prius and Honda Civic Hybrid owners for carpool stickers."
Key Themes Behind This Trend
- Eco-friendly Transportation
- The trend for eco-friendly vehicles like hybrids, plug-in hybrids, EV's, and fuel-cell vehicles are on the rise globally, creating further opportunities for disruptive innovation and growth.
- Alternative Fuel Options
- Innovation in alternative fuel technologies such as hydrogen fuel cells, biogas, and renewable electric powered transportation solutions are gaining traction around the world and provide opportunities for new market entrants.
- Car Sharing Economy
- The trend for car-sharing, ride-hailing, and other shared mobility services create opportunities for disruptive business models to innovate and create new value propositions for vehicle owners and users alike.
Where This Applies
- Auto Manufacturers
- Auto Manufacturers can capitalize on the trend towards eco-friendly vehicles by investing in the development and production of new technologies specific to alternative fuel options, resulting in more sustainable solutions for the consumer market.
- Energy & Infrastructure
- Energy and Infrastructure industries have an opportunity to innovate by investing in alternative fuel technologies in order to provide more sustainable and renewable options for powering transportation solutions.
- Shared Mobility Providers
- Shared mobility providers can capitalize on the trend towards the sharing economy by developing new business models and partnerships that promote the sharing of resources, resulting in more environmentally friendly transportation options available for consumers.
