NPD Finds Economic Concerns and Gas Prices Keep Consumers Driving Less - aftermarketNews

NPD Finds Economic Concerns and Gas Prices Keep Consumers Driving Less

New survey results continue to demonstrate consumers' commitment to driving less.

HOUSTON — Consumers’ economic concerns and uncertainty about the future of gas prices are contributing to declines in miles driven, according to a recent survey conducted by market research firm The NPD Group. Even though gasoline prices have declined sharply from last summer’s historic highs, NPD’s survey shows that 56 percent of consumers say they are still driving less.

“Economic impact, unemployment and a lack of faith that lower gas prices will continue are all contributing factors to why consumers are driving less,” said David Portalatin, director of industry analysis for NPD’s automotive aftermarket unit, which conducts automotive industry research. “Keep in mind, though, that this long-term change in driving behavior actually began when gasoline prices reached inflation adjusted highs in the fall of 2005, which is different than previous gas price spikes when gas was still relatively inexpensive.”

According to an NPD survey conducted in January, consumers continue to find ways to conserve gas or increase fuel efficiency by driving less, idling less, driving slower and carpooling, but the survey finds that they are also modifying their lifestyles with longer-term changes, like changing jobs to work closer to home or moving closer to work, all which began to emerge when inflation-adjusted gasoline prices soared to unprecedented levels.

The U.S. Department of Transportation released last week its December 2008 miles driven report, which shows a 14-month consecutive decline in driving. Motorists drove 3.8 billion fewer miles in December 2008 compared to the same month a year earlier.

“We are thinking about the economy and gas prices in ways that we’ve never thought about in the past,” said Portalatin. “Consumers didn’t decide to make lifestyle changes that lead to less driving overnight, and it will take more than a short term drop in gas prices to change back to the old patterns of behavior.”

You May Also Like

Continental, Synopsys Team Up on Automotive Software Development

The collaboration aims to accelerate the development and validation of software features and applications for the Software-Defined Vehicle.

Continental announced a collaboration with Synopsys to accelerate the development and validation of software features and applications for the Software-Defined Vehicle (SDV).

"This new collaboration integrates Synopsys’ industry-leading virtual prototyping solutions for virtual Electronic Control Units (vECU) within Continental’s Automotive Edge (CAEdge) cloud-based development framework. The results are digital twin capabilities for software development that help automakers accelerate software development and speed up their time to market," Continental said.

Epicor Unveils Digital Cataloging, Future Plans

The new catalogs use Epicor-validated, ACES-compliant data and an “Intelligent Search” feature to find the right part quickly.

Epicor digital catalog
Epicor Launches Automotive B2B eCommerce Platform

The Epicor Commerce for Automotive platform features multi-seller support and parts lookups for distributors and their customers.

Epicor commerce for Automotive
Marelli Launches Fuel System for Hydrogen Propulsion Systems

Marelli will present a variety of new technology at the CTI Symposium in Germany, Dec. 5-6.

The Automotive Aftermarket’s Role in a Circular Economy 

Take a deep dive into the factors driving the automotive aftermarket toward a more circular economy.

Circular economy

Other Posts

AI in the Aftermarket: Endless Applications Yet Hurdles Remain

The automotive aftermarket is delving into AI and ways it can help businesses be more productive and effective.

Intellias to Showcase HMI, ADAS and More at CES 2024

The company also will unveil the next generation of its IntelliKit, a portable fully-integrated digital cockpit.

Anyline Partners with Treads to Simplify Car Ownership

Anyline has partnered with Treads, an AI-driven car management subscription service, to enhance analytics for car owners.

Anyline Trends partnership
Unifying Your Parts Technology to Eliminate Channel Conflict

Harmonizing various channels in your eCommerce strategy through unified technology helps build an agile business model.

ecommerce channel conflict auto parts suppliers