• March 5, 2008

Kelley Blue Book Marketing Research says in its latest study that higher gas prices have two-thirds of car shoppers looking at vehicles they would have ignored before.

The study was based on responses from 1,200 in-market new-vehicle shoppers at kbb.com in February.

The firm notes that with oil up to a record $102 a barrel, nearly 32% of new-vehicle shoppers said that if gas prices increase another 25 cents, they will start looking at more fuel-efficient vehicles.

But rather than go out and buy a subcompact instead of the large SUV they had in mind, consumers are offsetting gas prices by changing buying habits in other areas.

The firm says respondents reported making 50% fewer purchases of non-essential retail items; 44% said they would eat out less often, 40% said they would purchase fewer media entertainment items; and 9% of new-car shoppers said they would delay buying a new home.

--Karl Greenberg