Fuel Economy Tops The List, but Probably Won’t Stay There Long.
New-vehicles buyers put fuel economy as the top factor in vehicle selection according to a new report by J.D. Power and Associates. Although with the recent decrease in fuel prices, it will most likely lose that title soon.
Research director Jon Osborn was interviewed by Automotive News, and said that “Consumers are going to own these vehicles for many, many years. They want [mileage] to remain low during their ownership period,”
The study is in its 12th year, and culminates responses from nearly 30,000 vehicle owners who registered their vehicle in April or May of 2014. However, this was well before gas prices began their precipitous drop.
Overall, this study considers why consumers purchase or reject specific new vehicles, and also if they do not consider a particular new vehicle at all. The study was done from July 2014 to September 2014.
The average number of vehicles considered before purchasing was the same as the previous year at 3.2
As one might expect, mileage was the biggest factor for consumers who purchased compact, small and midsize cars, along with compact SUVs. It was also the second most cited reason for rejecting a specific vehicle that was originally on their list.
Also, the report noted that 27% of those surveyed would not consider a hybrid, as they were considered too expensive.
Technology was a big factor, as 15 percent would not consider a model because it did not have the latest technology. That represents a significant 11 point jump from last year.
Since 2011, Fuel economy has been the most common reason consumers select their vehicles. Prior to that, reliability and freedom from breakdowns ranked most important.
As for rejecting, exterior styling was the top reason for rejecting a particular model, with interior styling being second.