A survey by Consumer Reports’ National Research Center revealed that gasoline prices are a major factor that new car buyers consider. In fact, thirty-seven percent of consumers are looking to replace their current vehicles with more fuel-efficient vehicles such as hybrids. Among those who are considering buying a new car to replace their old one, half says they are looking at gasoline/electric hybrids while 38% are thinking of purchasing a flex-fuel or diesel vehicle.

Most of the respondents are also considering downsizing their vehicles. Half are planning to replace their cars with a smaller one; about a fifth is considering a small SUV or family sedan, while fewer than one in 20 are considering a luxury sedan or large SUV. When it comes to accepting the skyrocketing fuel prices, 70 percent says they have accepted the $3/gallon price while 50 percent are ready to pay $4/gallon. “High gas prices are not just an inconvenience anymore,” explained Robert Gentile, director of Consumer Reports’ Auto Price Services. “They are forcing people to reconsider what and how they drive, even the way they live their lives.”

Source: Consumer Reports