Dealerships believe that even at $3 per gallon, the price of gasoline has not seriously affected consumer purchasing habits . Rather, lower car sales are being attributed more to the lack of rebates than higher fuel costs. SUV sales in particular, which have been falling at a steady rate, are due more to people waiting on gas prices to fall. Finally, these dealers are saying that consumers still feel hybrids are priced too high despite their savings at the pump.
Hybrid sales inelastic despite surging gas prices
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Motorcycles getting second looks as gas prices rise.
[Source: The Wichita Eagle]