Almost Two-Thirds of U.S. Auto Shoppers Now Considering More Fuel Efficient Vehicles as a Result of Rising Gas Prices

ATLANTA--April 19, 2011: Almost two-thirds - 62% - of auto shoppers surveyed in March and April on AutoTrader.com indicated they would consider a more fuel efficient vehicle for their next car in the face of gas prices that continue to rise. Industry reports note that the average retail price for all grades of gasoline in the United States rose past $3.80 per gallon this month, with some markets seeing prices above $4 per gallon.

AutoTrader.com conducted the survey of visitors to the site between March 14 and April 4.  A similar survey conducted during January and February found that 53% percent of car shoppers were considering more fuel efficient vehicles.  This increase in just a few weeks and other data from the March-April survey indicate more Americans may be ready to change car buying and other driving and lifestyle habits as a result of rising gas prices.

In the most recent March-April survey, 49% of respondents indicated that they would be cutting back on eating out and 46% of respondents indicated that they would be cutting back on summer vacation plans as a result of higher fuel prices (these questions were not posed in the January-February survey).

According to the findings however, the traditional U.S. solo commute to work doesn't seem to be at risk yet, with only 9% of respondents indicating that they would consider looking for car pool opportunities and only 3% of respondents indicating they would take public transportation more often.  A majority of survey respondents - 67% - did indicate that they would combine trips to complete as many errands as possible in fewer trips in an effort to use less gasoline.

The survey data related to car shoppers' vehicle consideration set is backed up by other data from AutoTrader.com's March Trend Engine report (click here for the full report). That report, which highlights car shopping activity on AutoTrader.com each month, showed several fuel-efficient vehicles gaining in popularity. On AutoTrader.com's top-searched new-car list, fuel efficient models like the Ford Fiesta, Chevrolet Cruze and Hyundai Elantra made gains in popularity.  On the company's top-searched used-car list, fuel efficient models like the Toyota Camry, the Honda Civic and the Nissan Altima also saw increased popularity.