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Eighty-seven percent of new car shoppers last montnh said they think gas prices will gomuch higher, up from 66 percen t in April. The prospec of higher gas prices also is havinv an impact onpurchasing decisions. When askefd what they would be most likely to compromise in theirrnext new-vehicle purchase, shoppers cited engine size as the top item likelyy to be sacrificed, followed closelyy by vehicle size.
In addition, 73 percent of thosw who saw gas prices increasing in May said they plan to change their spending habits if gas prices were to gomuch "While we may not see the $5-per-gallon gas experiencex in some areas last year, currengt economic conditions compounded by the pain at the pump may make $3-per-gallonb gas a new threshold for car buyers the point at which they change their mind about what vehicl e to buy and how they spends their money," said Jack Nerad, executives editorial director and executive marker analyst for Kelley Blue Book and KBB.
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