According to the latest Kelley Blue Book survey regarding gas prices, new cars and used cars, consumers feel gas prices will improve.
In a recent May 2011 survey by KBB, more than half of car shoppers (52 percent) say they think gas prices will either stay the same or go down in the next 30 days. As well, consumers that said gas prices would affect their choice of vehicle has decreased by five percent from April (35%) to May (30%).
“Prices at the pump have halted their steep rise and now gas prices are slowly going down in many parts of the country, and the latest kbb.com survey results show that car shoppers are taking note,” said Jack R. Nerad, executive editorial director and executive market analyst for Kelley Blue Book’s kbb.com. “If consumers feel more optimistic about the near-future state of gas prices and more confident in their personal economic situations, this will bode well for the automotive industry, though declining home values present a continuing concern. Vehicle availability issues caused by the Japanese earthquake and tsunami also could blunt gains to be expected from increased car-buyer confidence.”
[Source: Kelley Blue Book]