National Survey Shows 29% of Those Who Intend to Acquire a New
Vehicle in the Next Year Will Seek Fuel-Efficiency If Gas Prices Hit $2 Per
Gallon
Rochester, NY—April 14, 2003—New national survey results reveals that
among those who plan to acquire a new vehicle within the next year, more will
consider fuel-efficient vehicles as gas prices rise.
Data show that given rising fuel costs in the U.S., a majority (81%) of those
who are intending to acquire a new vehicle in the next year are likely to
consider purchasing or leasing a more fuel-efficient vehicle. Furthermore,
of those "intenders," car owners (85%) are more likely than truck
owners (72%) to consider acquiring a vehicle that is more fuel-efficient.
These are some of the results of a nationwide survey conducted online by
Harris Interactive® between March 21 and 26, 2003, with a sample of
1,058 adults who own and purchased or leased a new vehicle in the last four
years or who said that they intend to purchase or lease a new vehicle in the
next year. These data refer to the more than half (541) of all respondents who
said they "intend" to acquire a new vehicle in the next year.
Gas prices: How high is too high for automobile consumers?
Over half (59%) of intenders are likely to consider a more fuel-efficient
vehicle if the price of fuel is two dollars or less per gallon. At under two
dollars per gallon, 30% will consider a more fuel-efficient vehicle. At two
dollars per gallon, another 29% of those who are preparing to acquire a new
vehicle in the next year will consider a more fuel-efficient vehicle. About
the same percentage of truck owners (30%) and car owners (27%) are likely to
consider fuel efficiency as a factor once the price of fuel reaches two dollars
per gallon.
Compared to the rest of the country, those who live in the West and intend to
acquire a new vehicle in the next year have a higher tolerance for higher fuel
prices. For just over half (53%) of them, it will take a price of $2.50 per
gallon or more to motivate them to consider a more fuel-efficient vehicle.
Fuel economy among consumers’ top requirements when thinking about
acquiring a new vehicle
While reliability and safety/security are the most important consumer
requirements for a new vehicle, 39% of intenders rank fuel economy as one of the
top three most important requirements they have for a new vehicle, ahead of
comfort (32%), interior (13%) and exterior (24%) styling and passenger capacity
(17%). Nearly three-quarters (73%) rank reliability, 55% rank security/safety
and 48% rank performance in the top three most important requirements for a new
vehicle. Those who intend to acquire a car in the next year (48%) are
twice as likely as those who intend to acquire a truck (24%) to rank fuel
economy as one of the top three most important requirements for a new vehicle.
TABLE 1
% LIKELY TO CONSIDER BUYING A MORE FUEL-EFFICIENT VEHICLE
"Given the rising cost of fuel, how likely are you to
consider buying a vehicle which is more fuel-efficient?"
Base: Those who intend to purchase/lease a new vehicle within the
next year
| |
Total |
Car Owners |
Truck Owners |
| |
% |
% |
% |
|
Very Likely |
40 |
47 |
26 |
|
Somewhat Likely |
42 |
37 |
46 |
|
Very/Somewhat Likely |
81 |
85 |
72 |
TABLE 2
% RANKED IN THE TOP 3 MOST IMPORTANT REQUIREMENTS FOR A
VEHICLE
"Thinking about the requirements you have for your next
vehicle, please rank the following in order of their importance?"
Base: Those who intend to purchase/lease a new vehicle within the
next year
| |
Total |
Car Owners |
Truck Owners |
| |
% |
% |
% |
|
Reliability |
73 |
79 |
67 |
| Safety/Security |
55 |
54 |
53 |
| Performance |
48 |
47 |
54 |
| Fuel Economy |
39 |
48 |
24 |
| Comfort |
32 |
29 |
36 |
|
Exterior Styling |
24 |
21 |
27 |
|
Passenger Capacity |
17 |
12 |
21 |
| Interior Styling |
13 |
10 |
16 |
TABLE 3
FUEL PRICE AT WHICH ONE-YEAR VEHICLE PURCHASE/LEASE INTENDERS
WILL CONSIDER A MORE FUEL-EFFICIENT VEHCILE—CAR VS. TRUCK OWNERS
"How high does the price of fuel have to be before you
will consider acquiring a more fuel-efficient vehicle?"
Base: Those who intend to purchase/lease a new vehicle within the next
year
| |
Total |
Car Owners |
Truck Owners |
| |
% |
% |
% |
|
Less than $1.50 |
8 |
9 |
5 |
|
$1.50-$1.99 |
22 |
23 |
19 |
|
$2.00 |
29 |
30 |
27 |
|
$2.01-$2.49 |
4 |
3 |
1 |
|
$2.50 or more |
38 |
34 |
47 |
TABLE 4
FUEL PRICE AT WHICH ONE-YEAR VEHICLE PURCHASE/LEASE INTENDERS
WILL CONSIDER A MORE FUEL-EFFICIENT VEHCILE—REGION
"How high does the price of fuel have to be before you
will consider acquiring a more fuel-efficient vehicle?"
Base: Those who intend to purchase/lease a new vehicle within the next
year
| |
Total |
Northeast |
Southeast |
N. Central |
S. Central |
West |
| |
% |
% |
% |
% |
% |
% |
|
Less than $1.50 |
8 |
5 |
4 |
5 |
5 |
6 |
|
$1.50-$1.99 |
22 |
20 |
25 |
18 |
23 |
18 |
|
$2.00 |
29 |
32 |
35 |
33 |
28 |
20 |
|
$2.01-$2.49 |
4 |
4 |
3 |
3 |
3 |
3 |
|
$2.50 or more |
38 |
39 |
32 |
40 |
41 |
53 |
Methodology
This survey was conducted online within the United States between March 21
and 26, 2003 among a nationwide cross section of 1,058 adults
who either purchased/leased a new vehicle in the past four years or who intend
to purchase/lease a new vehicle in the next year. Figures for age, sex, race,
education, income and number of adults in the household were weighted where
necessary to bring them into line with their actual proportions in the
population.
In theory, with probability samples of this size, one could say with 95
percent certainty that the results have a statistical precision of plus or minus
3 percentage points (for the total sample) and plus or minus 4.3 percentage
points (for the "purchase/lease intender" sample) of what they would
be if the entire population had been polled with complete accuracy.
Unfortunately, there are several other possible sources of error in all polls or
surveys that are probably more serious than theoretical calculations of sampling
error. They include refusals to be interviewed (non-response), question wording
and question order, and weighting. It is impossible to quantify the errors that
may result from these factors. This online survey is not a probability sample.
These statements conform to the principles of disclosure of the National
Council on Public Polls.
About Harris Interactive®
Harris Interactive (www.harrisinteractive.com) is a worldwide market
research and consulting firm best known for The Harris Poll®,
and for pioneering the Internet method to conduct scientifically accurate
market research. Headquartered in Rochester, New York, U.S.A., Harris
Interactive combines proprietary methodologies and technology with expertise in
predictive, custom and strategic research. The Company conducts international
research through wholly owned subsidiaries—London-based HI Europe
(www.hieurope.com) and Tokyo-based Harris Interactive Japan—as well as through
the Harris Interactive Global Network of local market- and opinion-research
firms, and various U.S. offices. EOE M/F/D/V
To become a member of the Harris Poll OnlineSM and be invited to
participate in future online surveys, visit www.harrispollonline.com.
Press Contacts:
Nancy Wong
Harris Interactive
585-214-7316
nwong@harrisinteractive.com
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