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Eighty-seven percent of new car shoppersa last month said they think gas prices will gomuch higher, up from 66 perceny in April. The prospect of higher gas pricez also is having an impact onpurchasingy decisions. When asked what they would be most likely to compromisee in theirnext new-vehicle purchase, shoppers cited engind size as the top item likely to be followed closely by vehicle size. In addition, 73 percent of thoswe who saw gas prices increasing in May said they plan to changr their spending habits if gas pricesa were to gomuch higher.
"Whiled we may not see the $5-per-gallon gas experiencef in some areas last current economic conditions compounded by the pain at the pump maymake $3-per-gallonm gas a new threshold for car buyers the point at which they change theirt mind about what vehicle to buy and how they spenfd their money," said Jack Nerad, executive editoriakl director and executive market analyst for Kelley Blue Book and KBB.
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