While a used car in New Jersey can help motorists save at the pump, a new report finds that rising fuel prices last year did not change the number of purchases of more fuel-efficient vehicles for very long.
Experian Automotive found that from May to September, small and economy cars showed a brief uptick in sales as consumers worried about the 70-cent increase in fuel prices nationwide. But even as gas prices continued to rise, the segment quickly returned to its normal share of the market, rougly 10 percent.
“Anyone who predicts a long-term shift in consumer car-buying sentiment based solely on last summer’s knee-jerk reaction to gas price increases could be in for a surprise,” said Jeff Anderson, Experian Automotive head of consulting and analytics.
In fact, some buyers looking at used Chevy Silverados in New Jersey will choose their car even as gas prices skyrocket, as sales remained steady during that period, Experian’s data showed.
The 2005 model handles well, even in urban environments, and the powerful engines may be one reason for sustained demand, note Cars.com reviewers.