Car Buyers Willing To Pay For More Fuel Efficient Vehicles

Car Buyers Willing To Pay For More Fuel Efficient Vehicles

With the recent recession and high fuel prices, car buyers are placing a higher priority on fuel efficiency. To save at the pump, buyers are willing to sacrifice purchase, price, amenities and size but not safety, according to the Consumer Reports National Research Center.

1,764 random adult car owners were interviewed between April 28-May 2, 2011 regarding car buying and fuel economy issues. The surveyed said that nearly twice as many consumers expected to choose a model with much better or somewhat better fuel economy(62 percent) relative to those who are targeting about the same fuel economy (32 percent).

Survey respondents expect their next car should deliver an average of 29 mpg. More than 10 percent said they expect 40 mpg or better in their next car.

It was also interesting to note that only 17 percent of those interviewed will buy a car next year. As well, the state of the economy played a factor causing a significant shift in the age of the average car driven by respondents has increased by eight years.

With America’s passenger cars continuing to age, less than a fifth or car owners will look to replace their car any time soon. When buying a new car, fuel economy will be the deciding factor. To reach increased fuel economy, shoppers will compromise on size and even consider paying more for a diesel or hybrid.

New car Used car
Pay more for fuel-efficient car 58% 49%
Compromise amenities or comfort 44 54
Compromise size or capacity 47 48
Compromise performance 27 35
Compromise safety 11 14

[Source: Consumer Reports]