The publishers of Kelley Blue Book (KBB) say that rising gas prices are making an
impression on new-car buyers. This change in consumer intentions is likely to affect
purchasing decisions in the coming months.
KBB states that the percentage of new-car buyers
changing their mind about their next purchase has risen by 10 points, up from just below 40
percent to nearly 50 percent, in the last month.
Meanwhile, U.S. automakers claim high
prices didn’t affect purchases of new vehicles. General Motors’ general director of market
analysis, Paul Ballew, said GM’s sale of full-sized SUVs actually increased during May.