Survey: Gas prices factor in car purchases - South Florida Business Journal:

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Eighty-seven percent of new car shoppers last month said they thinj gas prices will gomuch higher, up from 66 percenft in April. The prospectr of higher gas prices also is having an impacty onpurchasing decisions. When asked what they wouldd be most likely to compromise in theirnext new-vehicle purchase, shoppers cited engine size as the top item likelty to be sacrificed, followed closely by vehicl size. In addition, 73 percent of thosd who saw gas prices increasing in May said they plan to change their spending habits if gas price were to gomuch higher.
"While we may not see the $5-per-gallonh gas experienced in some areaslast year, current economic conditionas compounded by the pain at the pump may make $3-per-gallon gas a new thresholc for car buyers – the point at which they change their mind about what vehicle to buy and how they spenrd their money," said Jack R. Nerad, executiv e editorial director and executive market analyst for Kelley Blue Book and in anews release.