Small Vehicle and Hybrid Sales Are Benefitting From the Rise in Gas Price
JD Powers is reporting through their Power Information Network (PIN) rising gas prices are moving some owners of large and midsize trucks in...
https://iskablogs.blogspot.com/2007/05/small-vehicle-and-hybrid-sales-are.html
JD Powers is reporting through their Power Information Network (PIN) rising gas prices are moving some owners of large and midsize trucks into smaller vehicles. They are also seeing a similar pattern for hybrid electric cars. As gas prices increase, so do hybrid car sales.
The study shows that from February to April, as gas prices rose to all time highs ($3.10 a gallon nationwide average), owner loyalty is being affected. Midsize and large utility vehicle owners have moved into smaller vehicles. At the same time, owner loyalty within small vehicles segment has increased. The small vehicle segment includes cars and light trucks.
There have been increased sales seen in four cylinder engines from 27.5 percent to 35.7 percent from April 2004 to April 2007. Time to turn (the number of days a car spends on a dealership lot before being sold) has also decreased for new and used small vehicles as gas price rise.
It should be noted that large and midsize cars, small crossovers and small SUVS have remained relatively unchanged.
These patterns are very similar to those seen in 2006 when gas prices rose.
The study shows that from February to April, as gas prices rose to all time highs ($3.10 a gallon nationwide average), owner loyalty is being affected. Midsize and large utility vehicle owners have moved into smaller vehicles. At the same time, owner loyalty within small vehicles segment has increased. The small vehicle segment includes cars and light trucks.
There have been increased sales seen in four cylinder engines from 27.5 percent to 35.7 percent from April 2004 to April 2007. Time to turn (the number of days a car spends on a dealership lot before being sold) has also decreased for new and used small vehicles as gas price rise.
It should be noted that large and midsize cars, small crossovers and small SUVS have remained relatively unchanged.
These patterns are very similar to those seen in 2006 when gas prices rose.
