Archive - Jun 20, 2004

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Record Gas Prices Fuel ZAP Auto Dealer Network

Submitted by acampbell on Sun, 06/20/2004 - 20:00.

Record Gas Prices Fuel ZAP Auto Dealer Network

SANTA ROSA, Calif., June 21 -- Record gas prices and rising demand for fuel efficient cars are creating a wave of dealer interest for transportation pioneer ZAP (OTC Bulletin Board: ZAAP - News).

The Wall Street Journal reported that rising gas prices are spurring demand for gasoline-electric hybrids to such an extent that some dealers are tacking on markups of $5,000 or more on the top of the car's sticker price. In May, for the first time ever, the average price of gasoline rose over $2.00 per gallon, with reports of $4 per gallon for full service in some parts of the country. At the same time, manufacturers of hybrids report a backlog of 22,000 orders that cannot be filled.