Consumer Preferences Shift As Gas Prices Rise
Media Contact:
Scot Hall
(513) 381-0100 x 1000
[email protected]
Cincinnati, January 25, 2011
Mid month reports from the U.S. Energy Information Association confirm what your wallet already knows …..that gas prices are on the rise across the United States. In fact, there is not a region across the country where prices were not up from the same period a year ago. Additionally, this rise put the price per gallon of gasoline above the $3 threshold in every region across the US with the exception of one.
In mid January, Ford Motor Company CEO, Alan Mulally, was quoted as saying, “As fuel prices go up, people put more emphasis on fuel economy. We saw previously that as gas prices get above $3, people start making different decisions.” Unlike a couple of years ago the automotive industry is better prepared as prices increase. This is especially true for the domestic automakers that are much better positioned this time around with more fuel efficient offerings. For instance, Chevrolet is introducing 3 new fuel efficient entrants including the Cruze, Sonic, and the much anticipated Volt plug-in hybrid electric.
Resent search requests at Swapalease.com indicate that the $3 per gallon barrier may cause a shift in consumer attitudes toward the importance of fuel efficiency when selecting their next vehicle. Company officials noted that search requests for higher mile per gallon vehicles have increased notably over the last several months. Clients looking to transfer out of leases as a result of fuel economy concerns is trending upward, too.
Company President and Co-Founder, Richard Joseph stated, “More of our clients were searching for cars that require less fill ups as 2010 came to a close and so far into 2011.” He added, “Swapalease.com listened to customer feedback regarding the request for a way to easily search for more fuel efficient vehicles by incorporating a Green/Hybrid category search option.” Customers can now search hybrid vehicles on Swapalease.com with a simple click of a button.
About Swapalease.com:
Swapalease.com is the world’s largest automotive lease marketplace and the pioneer in facilitating lease transfers online using a patented process. First conceptualized in 1997, Swapalease.com has evolved into the leading automotive consumer online destination servicing all aspects of the automotive leasing lifecycle and provides programs (including new leases and for sale vehicles) for both consumers and dealers in the U.S. and Canada. The company is headquartered in Cincinnati, Ohio. For more information, call 866-SWAP-NOW or visit www.swapalease.com.
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