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Gas Prices Affecting Most Drivers

Gas Prices Affecting Most Drivers

By Marty Padgett's avatar Marty PadgettMarty Padgett April 8th, 2008

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The cost of gas is affecting how drivers shop for new cars, according to the pricing mavens at Kelley Blue Book.

The latest Kelley Blue Book Marketing Research study reports that shoppers have already changed their behavior, and will keep defecting from less fuel-efficient vehicles if gas prices keep rising.

In the latest survey, some 60 percent of 1100 shoppers surveyed admitted that gas prices have changed which car they purchased or will purchase. And of those polled, 43 percent said they would consider a more gas-miserly car if gas prices rose another 25 cents over today's prices. Kelley says both those figures have risen 11 points since the previous month.

Some shoppers are sticking to their guns, but their numbers are dropping. In February Kelley asked shoppers if they were unaffected by gas prices as they looked for a vehicle, and 34 percent said yes. In March that number fell to 25 percent. The numbers of those interested in alternative-fuel vehicles, too, are growing.

“The cost of gasoline is continually hitting new record highs, forcing consumers to reevaluate their spending,” said Jack R. Nerad, executive editorial director and executive market analyst for Kelley Blue Book and kbb.com. “This study shows just how many are willing to make better economic choices in order to save money and increase fuel efficiency. More fuel efficient models are available on the market and now consumers have that choice.” Enlarge Photo The cost of gas is affecting how drivers shop for new cars, according to the pricing mavens at Kelley Blue Book. The latest Kelley Blue Book Marketing Research study reports that shoppers have already changed their behavior, and will keep defecting from less fuel-efficient vehicles if gas prices keep rising. In the latest survey, some 60 percent of 1100 shoppers surveyed admitted that gas prices have changed which car they purchased or will purchase. And of those polled, 43 percent said they would consider a more gas-miserly car if gas prices rose another 25 cents over today's prices. Kelley says both those figures have risen 11 points since the previous month. Some shoppers are sticking to their guns, but their numbers are dropping. In February Kelley asked shoppers if they were unaffected by gas prices as they looked for a vehicle, and 34 percent said yes. In March that number fell to 25 percent. The numbers of those interested in alternative-fuel vehicles, too, are growing. “The cost of gasoline is continually hitting new record highs, forcing consumers to reevaluate their spending,” said Jack R. Nerad, executive editorial director and executive market analyst for Kelley Blue Book and kbb.com. “This study shows just how many are willing to make better economic choices in order to save money and increase fuel efficiency. More fuel efficient models are available on the market and now consumers have that choice.”

Tags: Driving, Shoppers



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Responses (4 total)

  1. By  Wayne K #1, Posted: 4/8/2008

    My partner's lease on his Murano just ended, and he went to a Nissan Versa to help keep gas, payment, and insurance all down. The biggest driving force was the gas !!!

  2. By Ed #2, Posted: 4/8/2008

    "Gas Prices Affecting Most Drivers"?

    You don't say!

    Did they have to spend how many $100,000s to figure that out?

    Genius...

    Reminds me of a study of Strippers that the poor taxpayers had to fund, a long time ago, in some retarded Sociology Department (but I am repeating myself)

    That study, after a lot of time and $ spent, found out that strippers generally have larger breasts than non-strippers.

    Gee Whiz!

  3. By Ed #3, Posted: 4/8/2008

    And it is not getting any better:

    LONDON (AFP) - World oil prices spiked on Tuesday close to record high points as supply concerns were stoked by a recent fire at a Finnish refinery and comments from the OPEC cartel, traders said.


    New York's main oil contract, light sweet crude for delivery in May, touched 109.64 dollars per barrel early Tuesday. The contract later stood at 108.65 dollars, down 43 cents from the close on Monday.

    New York crude had forged a historic peak of 111.80 dollars on March 17 owing to a weak dollar, tightening global supplies and choppy world financial markets.

  4. By Tom L #4, Posted: 4/9/2008

    CAFE - Nothing
    Environmental Awareness - Nothing
    Gas Prices go up - Now people start factoring in mpg to the purchases.

    Seems like I've heard this before. When is the government going to stop asking the automakers to fix society's problems and realize the responsibility lies in the hands of the people?

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