Gas Prices Causing Some Consumers to Buy Smaller Vehicles
Revving up for a new car or truck? Many West Tennesseans are turning to gas prices to make their purchasing decision. “I would say probably 50 percent of the people buying vehicles right now are very conscious of the gas mileage – if not more than that,” said Veteran Motors general manager, Chris Garner. At nearly $4.00 per gallon, Garner said gas fills in as the second most important factor for customers at his pre-owned car lot. “Monthly payment is going to be first and foremost, because that’s going to be the key focus when you’re purchasing a vehicle. And the second thing – which is a very very close second – is going to be gas mileage,” said Garner. “The cars that get good gas mileage typically are gone in about half the amount of time that a car that doesn’t get near as good of gas mileage.” Garner says he has seen an increase in truck trade-in. “That’s more of a need than a want right now,” said Garner. “It used be more of a want and people could get it because gas didn’t affect it that much.” But at Lonnie Cobb Auto Group, managers said do not count the trucks out: Big vehicles do not always mean big gas bills. “If you need a truck, you’re going to get a truck,” said general sales manager Karl Kitzman. “And you can get a truck that gets good mileage today – better than before.” Depending on how you drive, fuel efficiency may not be first and foremost. “Most people drive an average of 15,000 miles per year,” said Kitzman. “You can go and put the pencil to it, and it’s probably not that much more in operating cost. But perception becomes a reality, doesn’t it?” Despite the rising gas prices, both managers told 7 Eyewitness News they have recently seen an overall upward trend in all vehicle sales.
