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Feasibility Analysis Of Alternative Fuel Vehicles

1815 words - 7 pages

With fuel costs rising, alternative fuel vehicles are becoming exceedingly attractive to the consumer. After thorough research, it is our opinion that Lotus Car Rental Corporation should invest in the purchase of a small fleet of Alternative Fuel cars. Lotus Rental Car will reduce expenses, increase customer base, and have greater profits by adding alternative fuel vehicles to their fleet.New legislative policies are being created in the automotive industry concerning fuel efficiency and pollution prevention. These policies are being implemented at both the State, and Federal, Government levels. The effects of these new regulations will be felt throughout the business world, but especially as they apply to our industry. The 1990 Clean Air Act has been the driving force in creating these changes, along with the Environmental Protection Agency's guide to the Clean Air Act (2002). The Environmental Protection Agency now has the power to fine a company for not following these regulations, unlike the past where court action was required. (pg.2, para.2). With greater judicial powers, the chances of significant fines being levied by the Environmental Protection Agency has greatly increased, and Lotus Rental Cars must make sure that our company policies are in compliance with all regulations imposed by the Clean Air Act.Not only must these laws be taken into account, but the laws targeting the fuel industry indirectly should be given consideration as well. New regulations calling for cleaner burning fuels have began to be implemented by many states... The 1990 Clean Air Act (2002) encourages companies to produce new alternate fuels that will burn cleaner and also provide mileage benefits (pg.4, para.8). The development and use of these new fuels is a contributing factor in the rising cost of fuel in general.The Clean Air Act does bring up issues that must be dealt with immediately. The National Safety Council (1999) explained that companies that own large fleets of vehicles are mandated by the Clean Air Act to phase out older less efficient vehicles. (Section.3, para.2). This is a serious issue for Lotus as we must purchase these newer cars, and of course, the company must now replace any of its older vehicles that do not meet government standards. This forced change should be looked upon as an opportunity for Lotus Rental Cars to promote use of alternate fuel vehicles and hybrid's. The benefits from this would be creating the public image of Lotus Rental as an environmentally conscious company. Fortunately, there are State and federal tax incentives available that will help to offset the initial expense of converting a portion of our fleet.Alternative fuels are fuels other than Gasoline are Diesel. Some of the more common examples of alternative fuels follow: Compressed Natural Gas (CNG), various blends of Gasoline and Ethanol and/or Methanol, Liquid Hydrogen, and Electric and/or Electric-Hybrid. There are other fuels being tested, but the preceding...

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