Posted on Monday 24 March 2008
Car buyers are faced with a number of vehicle attributes at purchase time, including styling, performance, safety and quality just to name a few of the popular ones. However, the one attribute considered above all else by consumers according to a new study conducted by America’s AAA is a car’s fuel-economy.
The results show that a majority of consumers, in the U.S. at least, are not buying cars based mostly on emotional decisions such as looks and brand, but rather financial reasons in order to fight back at the fuel station. Respondents of the survey were also asked whether they think that legislators should impose stricter fuel-efficiency for new cars, and unsurprisingly 61% agreed.
The shift in attitude can be explained by the fact that while previously fuel price hikes were seen as temporary by consumers, the current fuel crisis is being seen as the way things are going to be for some time now. This is now having a direct affect on purchasing decisions of consumers. As J.D. Power and Associates’ Bob Schnobus pointed out in an interview with The Detroit News, “increasingly, consumers are recognizing that prices are probably not going to go back.”
Schnobus also explained that consumers have been downsizing to smaller vehicles in droves. Where previously, someone would have been more inclined to purchase a V8, they may now look at a V6 or turbo four-cylinder.
Carmakers are catching on. Most of America’s domestic brands intend to shrink their V8 offerings in the near future and are planning the introduction of frugal diesel engines and compact turbos.
This is why market forces are far better at determining efficiency standards than government mandates.
If people feel a pinch they’ll change. But the pinch should not be artificial through taxes the way they do it in Europe, just let the price of oil determine what people buy.
Sure, it takes a little longer, but there’s not remorse or coercion, just people looking at what they want and what they need.
I don’t want to be told what to buy, I have two relatively inefficient, powerful vehicles because I don’t commute to work, and so the price of fuel affects me very little.
My nieghbor, who has a Civic Hybrid, spends more per week on gas than my wife in her Expedition.
It’s all about choice, and I’m glad I live in a country that still has a lot of it…
saw that bmw is going to be releasing an electric 3 series… interesting…
no one knows about mileage and fuel economy in this part of the world with fuel prices at $0.45 a US gallon of 91 octane and $0.62 a gallon of 95 octane & $0.25 a gallon of diesel.
not even 1% of the vehicles on road are diesel powered.
and one wont find BMW, AUDI, Mercedes, VW or any brand selling diesel variants in here
No one knows where you are talking about unless you say where you are from…
its not that hard to work out where akhan lives with a name like that and thoses fuel prices.
sadia arabia is my guess or wherever thoses greedy oil barrons
That’s what I was thinking as well.
Saudi Arabia……………. where else it can be