Small fuel effiecient cars are nothing new. In fact many of the major car manufacturers are now offering a variety of options which achieve 40+ miles per gallon. However, what we have not seen until now is a highly fuel efficient car which is highly affordable. Introducing the Elio to be produced in Louisiana by Elio Motors. This 3 wheel car is expected to achieve 84 miles per gallon and cost under $7,000. Given the price point and the convincing argument that small cars make great commuters how can the Real Estate Industry encourage the development and use of this segment of transportation ?
Both cities and private parking owners and operators need to reconsider the structures, pricing and parking options for smaller more fuel effiecient transportation vehicles. Either lower the price for these less-impacting vehicles or raise the price of bigger heavier vehicles to park. Just like the gasoline tax is essentially a user fee, parking rates can be structured to encourage good behavior and support of lighter, smaller, more fuel efficient vehicles. Parking operators should partner with vehicle manufacturers and municipalities to make such vehicles more common. What a great way to cross market !!