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Shoppers Taking 2nd Look At New Cars

Survey Finds New Car Shoppers Look For Better Mileage

POSTED: 1:12 am EST March 6, 2008

High gas prices have two-thirds of car shoppers looking at buying cars they may not otherwise have considered, a survey from Kelley Blue Book found.

According to the February survey of 1,200 new-car shoppers, 64 percent of shoppers have changed their minds of the type of car they are considering.

"Consumers continue to look for ways to tackle the gasoline price issue, and this study shows they are willing to make alterations in their shopping habits and lifestyles to balance their expenses," said Jack Nerad, executive editorial director and executive market analyst for Kelley Blue Book and kbb.com. "Technologies that offer better fuel economy, like the gasoline-electric hybrid, are being offered in more models, and other technologies, like 'clean diesel,' are waiting in the wings, helping shoppers re-evaluate their purchase decision to find better fuel economy."

Nearly 32 percent of new-vehicle shoppers in the Kelley Blue Book Marketing Research study claim that if gas prices jump even 25 cents they will begin looking at more fuel-efficient vehicles.

Car shoppers have made adjustments in their personal purchasing habits to offset heavy gas charges. The survey shows that 50 percent reported less shopping of non-essential retail items; 44 percent claim they will eat out less often; 40 percent who plan to purchase fewer media entertainment items; and 9 percent of new-car shoppers intend to delay the purchase of a new home due to the rise in gas prices.
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