Consumers Prefer Small Cars To Battle Gas Prices
A recent study GfK Custom Research North America found consumers looking to purchase a vehicle prefer compact automobiles over all other types - including alternative energy vehicles.
More than 18 percent of the six-month light vehicle demand in GfK's Automotive Intentions and Purchases Study was attributed to compact vehicles. Alternative energy vehicles stood at 9.4 percent in May, and subcompacts were only at 3.6 percent.
"For the average consumer looking to purchase a new vehicle, especially during these times of rising gas prices, they see more value in smaller vehicles with traditional gas engines - some of which approach 40 mpg - rather than hybrids or even electric vehicles," said Doug Scott, senior vice president of consulting for GfK Automotive.
The study also blamed the lack of demand for alternative energy vehicles on high purchase cost, inconvenience and a lack of understanding regarding how the cars work.
Consumers who are worried about gas prices because of outstanding credit card debt may want to purchase a car that has the highest fuel efficiency for their budget.
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