Do high fuel costs impact on vehicle sales / buyer behaviour
Discussion
All over the news today the rising cost of fuel and petrol breaking records.
Having seen first hand the reaction to previous news reports about fuel and other shortages and people going nuts and queuing, would rising fuel costs impact on your next car purchase.
There was a rush to fix energy tariffs as prices kept creeping up over the summer months, there is no way to avoid fuel cost increases, so you can only mitigate its impact by using a more economical vehicle if you need to keep costs and budgets under control.
Some of the reports today saying the price of fuel will go even higher and oil could soon top $100 a barrel, an average tank is now costing £15 more to fill then a year ago.
With people continuing to return to the office will that car bought when working from home turn out to not really be that practical and rather pricey to run with the current fuel costs.
So do high fuel costs influence people's buying habits? Will more economical vehicles attract a premium over the gas guzzlers, will there be a renewed interest in EV's, there was a few reports of increased interest during the recent fuel shortages.
My personal view is if its short lived then most would ride it out but if fuel prices remain high for a period of time then people will start looking at what its costing and how they can reduce the running costs, that's when I see prices of less efficient vehicles taking a hit.
Having seen first hand the reaction to previous news reports about fuel and other shortages and people going nuts and queuing, would rising fuel costs impact on your next car purchase.
There was a rush to fix energy tariffs as prices kept creeping up over the summer months, there is no way to avoid fuel cost increases, so you can only mitigate its impact by using a more economical vehicle if you need to keep costs and budgets under control.
Some of the reports today saying the price of fuel will go even higher and oil could soon top $100 a barrel, an average tank is now costing £15 more to fill then a year ago.
With people continuing to return to the office will that car bought when working from home turn out to not really be that practical and rather pricey to run with the current fuel costs.
So do high fuel costs influence people's buying habits? Will more economical vehicles attract a premium over the gas guzzlers, will there be a renewed interest in EV's, there was a few reports of increased interest during the recent fuel shortages.
My personal view is if its short lived then most would ride it out but if fuel prices remain high for a period of time then people will start looking at what its costing and how they can reduce the running costs, that's when I see prices of less efficient vehicles taking a hit.
Theoldguard said:
would ride it out but if fuel prices remain high for a period of time then people will start looking at what its costing and how they can reduce the running costs, that's when I see prices of less efficient vehicles taking a hit.
I think that's the point. But just wait for the screams from owners of electric cars when the gubbermint's tax take is switched from fuel consumption to road use. Panamax said:
I think that's the point. But just wait for the screams from owners of electric cars when the gubbermint's tax take is switched from fuel consumption to road use.
It may come one day but don't see it anytime soon with the push to EV's, at current rates there will only be 20-30% EV's on the road by 2030 when the ban on sales of ICE vehicles kicks in.The road tax and fuel savings are the incentives to switch at the moment, without that EV's would need to cost alot less of Gov't grants increase substantially.
I currently pay £30 annual road tax and my car will do 60 MPG so it will be a while before any fuel increases effect me that much. Even if the price was £3 a litre it would only be like driving a car that did 30 MPG.
I suspect non desirable, non sports cars that do poor MPG and are in the highest road tax bands will essentially be worthless in future if prices increase much more.
I suspect non desirable, non sports cars that do poor MPG and are in the highest road tax bands will essentially be worthless in future if prices increase much more.
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