Posted on 05/25/2006 8:05:04 AM PDT by adamjeeps
More than a third want to switch to a more fuel efficient car, according to survey.
NEW YORK (CNNMoney.com) - More than a third of American drivers say they are considering getting rid of their current vehicle in favor of something more fuel efficient, according to a national survey by Consumer Reports magazine.
(Excerpt) Read more at money.cnn.com ...
It's two different things though, on an election day everybody who has an opinion votes. Not everybody buys a car in any relatively short period of time. On the other side though 1/3 of people buying a car over the next few months to a year would probably be good for the economy, even if only a small percentage of them are new that's still a lot of manufactured durable goods getting paid for.
It will take most people a while to recover the price of a new vehicle. At today's prices I spend about $1500 a year on gas. Doubling my mileage (unlikely) would save me only $750.
I don't see US auto makers leading the fuel effecient vehicle market, in fact they are way behind. Far different from last decade when the Big 3 was way ahead in the SUV/minivan/truck game. But I am amused when people say they will buy a car that gets maybe 5-10 better mpg, saving less than $75/month but taking a huge depreciation hit on a new vehicle when their vehicle is paid for. Same with driving an extra 10 miles to save $.05 on gas or groceries.
Good analysis.....seems that a lot of folks seem to be keyed more on their feelings than their calculators. For me, if I were to trade my 2003 Ford Ranger, 3.0 V6 getting 25 mpg back and forth to work (300 mi / week) for an 2006 Accord V6 that gets about 35 mpg; at $2.80/gal, I'd half to drive that Accord for 3.6 years to break even on a 7% depreciation. The truck has 2 yrs of payments left.......don't make sense. If you have a truck around the RTP area, seems you always 'have friends' at work. LOL!! Do you know what the price per gal will be in 3.6 years?
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