New Car Buyers And Home Buying
With the extreme rise in gas prices and diesel fuel, one might think that consumers would curtail their new car buying. Not so.
The latest marketing research from Kelly Blue Book suggests that high fuel prices are affecting new-car shoppers only to the the extent they’re merely changing their spending habits. Nearly half responded that they would buy a new fuel efficient car if gas prices increase much further, rather than put off their purchase entirely.
To offset rising expenditures for fuel, consumers indicate that they are eating out less often (53 percent), joining more carpools (15 percent), shopping less for non-essentials (65 percent), and media entertainment (48 percent.) Only 10 percent say they are delaying the purchase of the biggest ticket item — a new home.
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