Consumer Study Shows Buyers Are Embracing Fuel Sipping Vehicles
May 8, 2013 11:09 AM
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Volkswagen Jetta Sportwagen TDI
The majority of vehicle shopper support increased fuel efficiency standards
The Consumer Federation of America recently released a report that it calls the first progress report on the
54.5 mpg fuel efficiency standard
. According to the CFA, consumers are demanding more fuel-efficient vehicles. According to the poll, the majority of Americans support federal government requirements increasing fuel economy for new cars.
“Looking at current market offerings, consumer purchasing trends and our surveys of consumer demand, there is no doubt that the federal effort to significantly raise fuel economy is benefiting, consumers, car companies, autoworkers and the environment”, said Jack Gillis, report co-author who is CFA’s Director of Public Affairs and author of The Car Book.
Those federal regulations stipulate that new cars achieve 35 mpg fleetwide average by 2017 and an average of 55 mpg by 2025. 85% of respondents to the survey said that they support these requirements with 54% saying they strongly support the standards.
Fuel efficiency is highly sought after when it comes to purchasing new vehicles with 88% respondents to the survey saying that in their next vehicle purchase, fuel economy will be an important factor and 59% say fuel economy will be a very important factor influencing the purchase.
Survey respondents who say fuel economy is very important to them expect their next vehicle to get 12 mpg more than the current vehicle. Consumers who already have a relatively efficient vehicle getting at least 24 mpg the intended purchase a new vehicle in the future want at least a seven mpg increase putting their desires at approximately 31 mpg.
The survey also found that 50% of respondents who said they intend to purchase an SUV want fuel efficiency of at least 25 mpg.
“These results should lay to rest any concerns that some car dealers had about consumer demand for more fuel efficient vehicles,” said Gillis. In spite of the support of car companies, unions, consumer and environmental groups, the National Automobile Dealers Association was the only major entity opposed to the new requirements.
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RE: Used Cars
5/8/2013 1:40:49 PM
To each their own.
When I was car-shopping two years ago, I could've bought a 2008 Camry with XLE trim and under 50K KMs for around $18K. I instead bought a 2008 Camry Hybrid for $19.5K with the similar trim features.
For typical driving at US fuel prices, the average savings are $600/year. At Canadian fuel prices it's closer to $800/year. With the amount of driving we do, it's closer to $1200/year.
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