Consumers already forgetting high gas prices, online searches for large vehicles increase
According to two online car buying research sites – Cars.com and CarMax – consumer searches for larger vehicles (trucks and SUVs) rose in September. National average for gas prices have dropped from over $3 a gallon in August to around $2.30 a gallon today, according to the Energy Information Administration and that's all it took for car buyers to change their habits. Fickle shoppers.
Over at Cars.com, fuel-sippers like the Prius, Yaris and Insight topped the list of vehicles with the largest decline in search volume over the past month, while Cars.com users increased their searches for gas-hogs like the Hummer H2 and H3, Cadillac Escalade and BMW X5. At CarMax, small cars remained popular searches in September, but vehicles like the Chevrolet Tahoe, Ford F150, and Ford Expedition, all got more searches in September than August, said Tom Folliard, president and chief executive officer of CarMax.
[Source: Cars.com and CarMax, Inc]
- Biggest automotive sales disappointments
- Fastest-depreciating cars in the United States
- Find and compare 2017 Models