Three-Quarters of New-Car Shoppers Affected by Gas Prices

Kelley Blue Book Marketing Research Shows Car Shoppers Altering Spending


Apr 08, 2008, 01:00 ET from Kelley Blue Book

    IRVINE, Calif., April 8, 2008 /PRNewswire/ -- According to the latest
 Kelley Blue Book Marketing Research study (, an
 increasing number of consumers say their purchasing behavior has shifted
 and will continue to change significantly if gas prices continue to rise.
 The latest 2008 results revealed that nearly 60 percent of vehicle shoppers
 say gas prices have changed their minds or strongly influenced their
 purchase decisions. Furthermore, 43 percent indicated they would seriously
 consider a more fuel-efficient vehicle if gas prices were to swell an
 additional 25 cents above current levels. Both measures are up 11 points
 from the previous month's Kelley Blue Book Marketing Research study.
     With average gas prices jumping from $2.97 to $3.27 in March, there is
 ample reason to see why consumer attitudes are shifting. While the vast
 majority of shoppers are indicating an alteration in their purchasing
 behaviors, only 25 percent still have no intentions in changing their
 behaviors, compared to 34 percent in February. The results also showed
 consumers considerably more interested in all the various alternative fuel
 technologies for fuel economy benefits and less for environmental reasons.
     "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 "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."
     The latest Kelley Blue Book Marketing Research study was conducted on
 Kelley Blue Book's among 1,100 in-market new-vehicle shoppers
 during March 2008.
     About Kelley Blue Book (
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SOURCE Kelley Blue Book