The Fuel Economy Factor | Green Energy News

August 31, 2003 – Vol.8 No.23

THE FUEL ECONOMY FACTOR.

Slowly it may be sinking in. Fuel economy is important. It is becoming a significant factor when choosing a new vehicle in the U.S.

According to a new study from J.D. Power and Associates - 2003 Escaped Shopper Study - 15 percent of new vehicle buyers cite fuel economy as a reason for rejecting a vehicle they once considered buying. Fuel economy is now number 5 on the list of reasons why new-vehicle buyers reject one model for another.

And automakers should take note: fuel economy was 13th on the list of reasons to reject last year at this time. Is this the beginning of a trend? Maybe, maybe not, but you can bet the makers of the least efficient vehicles hope the situation in the Middle East stabilizes soon, and that gas prices drop dramatically.

Other top reasons on the list for rejection reflect a still slack economy in the U.S.: 1) Total price too high, 2) Total monthly payment too high, 4) Not available with rebates/incentives like the vehicle ultimately purchased. (Number 3 on the list is Didn’t like exterior styling design.)

The survey was of 32,330 people who had recently purchased a new vehicle. Visit J.D. Power and Associates at http://www.jdpower.com/ (click Corporate Site).