Gas Pump Blues Causing Drivers To Cut Back
by Ashley Schiller
Published on July 11th, 2008
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High gas prices are causing consumers to cut back and look into more gas-efficient vehicles, according to a survey done by Consumer Reports.
Individuals and families are limiting their driving, vacations and entertainment spending. Forty-five percent of those surveyed said they have been putting less money into savings accounts and 17 percent have charged more to their credit cards.
Other survey highlights include:
- 79 percent of car shoppers intend to buy a vehicle with better fuel economy
- 80 percent of car shoppers are considering a diesel, flex-fuel or hybrid vehicle
- 54 percent would pay more for a more fuel-efficient vehicle
- 74 percent are driving less due to fuel costs
- If the price of gas were to exceed four dollar and thirty two cents, drivers would further curtail driving
- 26 percent have considered two-wheel transportation, such as a motorcycle or motor scooter
- Zero are looking for a vehicle that is much larger
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