Rising Fuel Prices Sway Buyers' Vehicle Decisions
Ward's Dealer Business, May 1, 2008 12:00 PM

An increasing number of consumers say their purchasing behavior has shifted and will continue to change significantly if gas prices keep rising, according to a Kelley Blue Book marketing study.

The latest 2008 results reveal nearly 60% of vehicle shoppers say gas prices have changed their minds or strongly influenced their purchase decisions.

Forty-three percent indicate they would seriously consider a more fuel-efficient vehicle if gas prices swell.

“The cost of gasoline is continually hitting new record highs, forcing consumers to reevaluate their spending,” says Jack R. Nerad, executive editorial director and executive market analyst for Kelley Blue Book and kbb.com. “This study shows just how many.”