ZAP (ZAPZ) announced today that dealer purchase orders for its Smart Car high-gas-mileage vehicles has increased to more than $200 million as American demand for the unique microcar has spread. ZAP CEO Steve Schneider made the announcement. On March 9, ZAP announced that it had crossed the $100 million purchase order milestone for the Smartcar Americanized by ZAP from U.S. auto dealers. Demand for the highly efficient gas-powered car has accelerated as rising gas prices continue to fuel consumer interest in next-generation automobiles, according to Mr. Schneider. Oil prices recently climbed to more than $50 per barrel, rising last week to a new high of $55 per barrel. Gasoline prices at the pump now top $2.00 per gallon in much of the country, while observers suggest that prices may reach $3.00 per gallon by summertime. [ more ]
