Survey Reveals Fuel Efficiency a Key Factor in Car Shopping
FAIRFAX, Va.--July 31, 2003--Three out of four potential car buyers in a recent industry study ranked fuel efficiency as key to their purchasing decision. CARFAX, pioneer of the vehicle history report, conducted this study on behalf of AMI Auto World Magazine to gauge consumer perceptions. The study particularly looked at consumers in the market for an SUV or mini van.The CARFAX survey, covered in the July 2003 issue of AMI Auto World, asked consumers to rate how three factors figured into their car purchasing decisions - fuel efficiency, the current price of gas and the octane the car required. The survey asked respondents if those factors were very important, important, neutral, unimportant or very unimportant in their decision.
Fuel Efficiency and Gasoline Prices Top-of-Mind for Consumers
Close to half - or 46 percent - of respondents rated fuel efficiency as very important in their automobile purchasing decisions. Consumers who said fuel efficiency was important represented 28 percent of the group, 16 percent were neutral, four percent called it unimportant and five percent tabbed it very unimportant.
Respondents approached current gas pricing with similar concern. Nearly half of the respondents - 46 percent - considered current gas pricing to be very important, 12 percent important, 24 percent neutral, nine percent unimportant and six percent very unimportant.
However, the lofty price of higher-octane fuel didn't appear to be of much concern to respondents even though there may be a 20-cent difference or more in the cost per gallon. And, whether a vehicle required premium fuel didn't seem to matter much to respondents. Only 22 percent of respondents considered it very important. Eight percent viewed it as important while ten percent rated it unimportant. Those who ranked it as very unimportant represented 24 percent of the respondents.
Results Summary
Very Very
SUV Shoppers Important Important Neutral Unimportant Unimportant
(5) (4) (3) (2) (1)
----------------------------------------------------------------------
Fuel Efficiency 46% 28% 16% 4% 5%
----------------------------------------------------------------------
Current Price
of Gas 46% 12% 24% 9% 6%
----------------------------------------------------------------------
Octane Required
by the car 22% 8% 31% 10% 24%
----------------------------------------------------------------------
SUV Shoppers Take Contrarian Approach
SUV shoppers, however, indicated in the survey that they're willing to trade fuel efficiency for benefits in a vehicle. Only 37 percent considered fuel efficiency very important.
"When I was shopping for my SUV, fuel efficiency was lower on my list of selling points," said David Joseph of Chapel Hill, NC. "It's a tradeoff I knew I would have to make when purchasing my car."
Results Summary
Very Very
SUV Shoppers Important Important Neutral Unimportant Unimportant
(5) (4) (3) (2) (1)
----------------------------------------------------------------------
Fuel Efficiency 37% 21% 17% 13% 12%
----------------------------------------------------------------------
Current Price
of Gas 36% 16% 28% 15% 5%
----------------------------------------------------------------------
Octane Required
by the car 19% 9% 38% 16% 18%
----------------------------------------------------------------------
Watching the Family Pocketbook
Mini van shoppers ranked fuel efficiency significantly higher than SUV shoppers. Nearly half of mini van shoppers surveyed -- 48 percent -- thought fuel efficiency was very important. Mini van shoppers who viewed fuel efficiency as important represented 32 percent of the group. Four percent ranked it as unimportant and two percent viewed it to be very unimportant.
"As a parent I was very concerned with fuel efficiency while looking for a new vehicle because we travel a lot doing every day activities and family vacations", said Joanna Farwell, of Lincoln, RI. "We were willing to spend the money on a safe and reliable car for the family but didn't want the added expense of high gas bills. A minivan was the perfect choice."
Results Summary
Very Very
SUV Shoppers Important Important Neutral Unimportant Unimportant
(5) (4) (3) (2) (1)
----------------------------------------------------------------------
Fuel Efficiency 48% 32% 13% 4% 2%
----------------------------------------------------------------------
Current Price
of Gas 45% 31% 12% 3% 4%
----------------------------------------------------------------------
Octane Required
by the car 21% 16% 22% 13% 27%
----------------------------------------------------------------------
And the Winners Are...
Whether you're a parent, an outdoorsman or just a curious consumer, how can you determine which car makes and models are a good buy if fuel efficiency is top on your list of concerns?
"In conjunction with publishing the CARFAX survey, AMI Auto World recommends a list of vehicles that might appeal to the fuel conscious," said Terry Jackson, editor-in-chief, AMI Auto World.
The AMI Auto World fuel-efficient automobile list includes:
-- BMW Mini Cooper
-- Honda Insight, Civic and Accord
-- Volkswagen New Beetle and Jetta
-- Toyota Prius, Sienna, RAV4 and Highlander
-- Chevrolet Impala, Astro/GMC Safari, Tahoe/GMC Yukon
-- Saturn LW200
-- Ford Ranger/Mazda B2300 and Ford F-150
Buyer Beware
"If you are in the market for one of these fuel-efficient cars and you're considering buying it used, of course, there are many factors to consider beyond fuel efficiency when determining if you are getting a good value," said Scott Fredericks, vice president, CARFAX. "A consumer should not only tap into recent industry findings. That shopper should take the car for a test drive; have a licensed, professional mechanic look at the car; and get a vehicle history report."
Based on a car's Vehicle Identification Number (VIN), a CARFAX Vehicle History Report can tell a consumer if a specific car they're looking at has had a problem past. A Vehicle History Report can potentially save a consumer thousands of dollars in costly repairs.
"There are a lot of helpful research tools out there for car shoppers today," Jackson said. "Use them to make the most informed buying decisions and you will likely find a high-value, safe and reliable vehicle for yourself and your family that will last you in these tough economic times."
About CARFAX
Since 1984, CARFAX has been helping people uncover the truth about used cars. The CARFAX Vehicle History Report - available through www.carfax.com and through car dealers - provides an instant background check on any used car. Vehicle History Reports help consumers and dealers avoid used cars with costly hidden problems, including major accident and salvage history, odometer fraud, flood damage and more. CARFAX takes its job of providing the truth about used cars so seriously it backs every Vehicle History Report with a $5,000 CARFAX Certified History Guarantee. Based in Fairfax, Virginia, CARFAX is a wholly owned subsidiary of R.L. Polk & Company.
