$4 gas drives Segway sales to new high

Record prices for gasoline are driving people in need of transportation to look at all kinds of alternatives. Used small cars from the early '90s are attracting record high prices (ahem), and more people are investigating scooters, mopeds and motorcycles. One company that has seen a huge spike in sales is Segway. The self-balancing electric scooter has become something of a joke in the years since its introduction as its high price has often tended to limit its use to rich nerds like Apple founder Steve Wozniak. Woz and his friends even invented Segway polo.
Increasingly though, Segways are being used as an alternative for short distance commuters. For someone who lives in a warm and preferably urban climate, the Segway's 25 mile range could provide a means to get around without the sweat that a bike ride might induce. Segway CEO Jim Norrod expects second quarter sales to be up 50 percent over the same period last year compared to a 25 percent jump in the first quarter. Of course, there is still that little detail of the $5,000 price tag. Given the limitations of the device, unless they can bring the price down, it will remain very much a niche product.

[Source: Wall Street Journal]

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