Fewer People Planning Travel This Memorial Day Weekend

CINCINNATI, May 23, 2013 /PRNewswire/ -- The start of the summer driving season is expected to be a bit of a mixed bag, based on feedback from a Swapalease.com Memorial Day Driving Survey conducted in early May. More people feel that gas prices aren't negatively impacting their decision to travel compared with 2012. However, fewer people plan on travelling during this year's holiday weekend.

Interestingly, fewer people plan to travel distances greater than 250 miles when compared with trips taken in 2012. What's more, a slightly larger group of drivers say they will travel more in the under-50 miles region, indicating they plan to stay close to home more so than in 2012.

The sentiment to travel less and stay home is interesting since the survey data show a large differential among people who feel the price of gas will negatively impact their decision to travel. Moreover, the current average price of gas is just $.11 cheaper than the same time last year ($3.60 vs. $3.71).

"The diminished impact of fuel prices on Memorial Day travel is not completely surprising," says Lacey Plache, Chief Economist at Edmunds.com. "Even though gas prices are still elevated, consumers have had time to adjust their budgets to these new 'normal' prices. Since there haven't been any sharp sustained spikes in gas this spring, consumers are focused more on other factors such as utility or lifestyle when deciding what to drive and how much they want to drive it."

With gas just $.11 cheaper than last year, 15% fewer people plan to rent a vehicle with better gas mileage compared to last year. Additionally, 12.4% more people plan to rent or lease a larger vehicle compared with 2012.

While the following data wasn't available in last year's survey, the majority polled in 2013 say they plan to drive either a SUV or sedan this Memorial Day weekend. The interesting component here is the large gap between those driving a SUV (38.3%) and those driving a crossover (8.3%), which offers size and comfort at a lower price point.

For more information about Swapalease.com or how to exit your lease early, call 866-SWAPNOW or visit www.swapalease.com. 

SOURCE Swapalease.com