High gas prices have led many consumers to research more fuel-efficient used cars, and recent findings from Kelley Blue Book's kbb.com found that their preferences appear to be shifting. In fact, as many as 51 percent of in-market consumers said they are likely to consider buying a smaller car in the near future.<\/p>\n
The results of the study revealed some other interesting tidbits as well. For instance, 20 percent of consumers said they are likely to consider purchasing a car that runs on alternative fuel including diesel-powered vehicles, electric cars and hybrids.<\/p>\n
It appears as though consumers' actions are backing up their preferences, kbb.com found. Even before gas prices started their ascent to nearly $4 per gallon, year-over-year sales of fuel-efficient vehicles for last month grew considerably. In particular, sales of hybrid gars jumped 56.4 percent in February compared to last year. Furthermore, sales of subcompact cars grew 38.9 percent, and mid-size cars rose 24.8 percent. For anybody looking to get a fuel-efficient car, now may be the time, analysts say.<\/p>\n
"As fuel prices continue to rise, we may see pricing become less favorable as demand increases, so risk-averse consumers should by now while dealer inventories remain plentiful," wrote Alec Gutierrez, the senior market analysts for automotive insights at Kelley Blue Book.<\/p>\n