Big cars with wide seats and low gas prices. These two things, while arguably the most prized aspects of our time spent driving a car, also happen to be at odds when it comes to car buyer priorities. After all, big cars mean low miles-per-gallon, while fuel efficient vehicles equate to smaller and lighter vehicles.
So what is it that car buyers want? According to the Consumer Federation of America (CFA), they – we – want fuel savings, and support the government’s proposed increase of CAFE standards to 54.5 by 2025. The study claims that consumers favor lifting CAFÉ gradually to 54.5 because it means they will enjoy a total savings of $3,000 over five years. That’s the average cash savings at the pump with more efficient cars.
Conversely, the Center for Automotive Research (CAR) says that the new CAFE requirement will result in consumers paying and additional $5,270 for advanced technology, $3,000 of which will not be recovered. CAR claims that buyers will respond by delaying the purchase of new cars.
Now, add to the discussion that June sales showed robust hybrid growth – up 164 percent year-over-year – all while the Ford F-Series and the Chevrolet Silverado continue to top best seller lists.
So, again — what is it exactly that car buyers want?
Key Points
–More savings at the pump = higher technology costs
–Proposed CAFE standard of 54.5, gradually implemented by 2025
–Hybrid sales up 164 percent: are shopping preferences changing?
Related Links
—Fuel Economy
—Consumer Federation of America
Join the Discussion
–What sells better, large gas-guzzlers or small fuel sippers?
Source
Automotive Digest
Published on DrivingSales.com