Gas Prices Spur Research on Fuel-Efficient Models
General Auto News
Gas prices have been on a steady rise over the last few weeks, prompting many analysts to predict that consumers will place an even greater emphasis on fuel-efficiency when shopping for used cars. According to Kelley Blue Book's Hot Used Car Report for February, they hit the nail on the head.
The report, which measures the activity of used car shoppers on kbb.com, found there was an increase in the number of shoppers researching fuel-efficient vehicles last month. The growth in research of hybrid cars was at the top of the list. The segment experienced a 12.2 percent rise in the number of people looking into purchasing these fuel-efficient vehicles and it was significantly higher than the next-closest competitor.
February also saw an increase in the number of people researching compact cars, though to a lesser degree of hybrids. The segment had a 3.7 percent increase in shopping activity, while sports cars had a 2.8 percent rise. Minivans (2.7 percent) and subcompact cars (2.4 percent) rounded out the top five.
There was a decrease in the number of shoppers looking at mid-size crossovers, a usual favorite among drivers, which did not come as a surprise to some analysts.
"When the price at the pumps is at play, customers will stray," said Arthur Henry, a market analyst for Kelley Blue Book.
Doing research is an integral part of the used car shopping process, especially if you're looking to find one with the best gas mileage. New Jersey State Auto Auction has plenty of fuel-efficient models at affordable prices, and all their vehicles are CARFAX certified so you know you're getting a reliable product.
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