Gas Prices are Changing the Way Americans Buy and Drive
Fuel economy seems to be the rule of the day when it comes to car buying and driving. First, the driving: For the first time since 1980, the...
https://iskablogs.blogspot.com/2008/04/gas-prices-are-changing-way-americans.html
Fuel economy seems to be the rule of the day when it comes to car buying and driving.
First, the driving:
For the first time since 1980, the total amount of miles that Americans are driving has dropped (Source: AAA via Christian Science Monitor via Treehugger. Image is from the CSM story and was produced by Wells Fargo Economics and Federal Highway Administration/Rich Clabaugh–STAFF)
And now, the buying:
And, despite the bad news coming from automakers about car sales in March (drop of 12%), hybrid, compact and crossover sales are the bright points. Hybrid Camry sales outpaced V6 Camry sales. Ford Edge Crossover sales were up 23.8%. Toyota had record months for the Prius and Yaris. Honda Civic Hybrid sales were up 34.0%.
Americans are starting to change their buying habits and driving habits in response to what they are paying for gas. And the increase in gas prices may not be over. Refiners are 'pulling back' on the production of gasoline, so gas prices could rise again over the spring. And that's if nothing out of the ordinary occurs.
NadaGuides is reporting a 96% increase in compact car segment, in what they feel is a direct response to gas prices. The company, a vehicle pricing and information website, said from January to March 2008, consumer interest in its mini-compact category increased 128 percent, while consumer interest in its sub-compact and compact categories increased 83 percent and 77 percent respectively.
Consumers increased their interest in the Mazda3 by 105%, the Toyota Yaris by 102% and the Honda Civic by 80% from January to March.
First, the driving:
For the first time since 1980, the total amount of miles that Americans are driving has dropped (Source: AAA via Christian Science Monitor via Treehugger. Image is from the CSM story and was produced by Wells Fargo Economics and Federal Highway Administration/Rich Clabaugh–STAFF)
And now, the buying:
And, despite the bad news coming from automakers about car sales in March (drop of 12%), hybrid, compact and crossover sales are the bright points. Hybrid Camry sales outpaced V6 Camry sales. Ford Edge Crossover sales were up 23.8%. Toyota had record months for the Prius and Yaris. Honda Civic Hybrid sales were up 34.0%.
Americans are starting to change their buying habits and driving habits in response to what they are paying for gas. And the increase in gas prices may not be over. Refiners are 'pulling back' on the production of gasoline, so gas prices could rise again over the spring. And that's if nothing out of the ordinary occurs.
NadaGuides is reporting a 96% increase in compact car segment, in what they feel is a direct response to gas prices. The company, a vehicle pricing and information website, said from January to March 2008, consumer interest in its mini-compact category increased 128 percent, while consumer interest in its sub-compact and compact categories increased 83 percent and 77 percent respectively.
Consumers increased their interest in the Mazda3 by 105%, the Toyota Yaris by 102% and the Honda Civic by 80% from January to March.
