It’s fascinating to watch the marketplace ebb and flow as conditions change and buyer behavior fluctuates in response. Now that gas prices have dropped a good deal in the past few weeks, the rush to get into smaller cars is leveling off, according to the Los Angeles Times:
“Consideration data,” which track interest in various vehicle segments by visitors to Edmunds’ website, indicate that the trend toward smaller vehicles is leveling off while interest in segments that had been declining — such as compact crossover SUVs — is rising. What’s more, interest in gas-electric hybrids is down 34% since June.
“With the initial shock of high gas prices fading, consumers are returning to rationality and again viewing gas consumption as just one of many factors when considering their next vehicle,” said Edmunds.com Chief Executive Jeremy Anwyl. “And as gas prices actually decline, this trend could accelerate.”
This development already has left-leaning environmentalist groups worried.
Still, the Rocky Mountain Institute, a nonprofit group the promotes efficient use of natural resources, was concerned enough to issue a statement “highlighting the importance of keeping our eye on the ball during this brief reprieve from higher oil prices.” The group urged that development of alternatives to traditional internal-combustion engines — such as plug-in hybrids and electric cars — continue apace.
