Study Finds High Gasoline Prices Affecting U.S. Car Buyer Decisions

If gasoline prices reach an average national price of $4.00 per gallon, interest in hybrids would increase more than five-fold.

Published: 31-Jan-2008

A new fuel-price study by Edmunds.com indicates that car shoppers turn their attention to more fuel efficient vehicles when gasoline rises above an average national price of $2.80 per gallon.

The study, which correlates the relationship –- “elasticity” –- between gas prices and online consideration of specific vehicle models and types showed that about $2.80 per gallon currently is a “psychological turning point for consumers,” says Edmunds.com Executive Director Dr. David Tompkins.

Researchers also projected what would happen if gasoline prices reach an average national price of $4.00 per gallon. In this scenario:

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