Buyers delay buying a car due to high fuel prices

23 March, 2022
Posted by: Jorge Platero
Category: Faconauto News

Los compradores retrasan la compra de un coche por el elevado precio de los combustibles

According to the Cetelem Observatory, only 1 out of 5 respondents indicates that they would go ahead with the purchase of a combustion model despite the current situation.

The war in the Ukraine and the truckers’ strike have caused an increase in fuel prices. Fact that already affects the national economy and, specifically, the automotive sector. As revealed by the latest Cetelem Observatory, buyers are delaying the purchase of a car due to the high price of gasoline. Specifically, 32.2% of consumers indicate that if they intend to buy a car, they would wait for the current market situation to be resolved.

According to the study carried out by the Cetelem Observatory, only 19.7% would continue with the purchase of a combustion model in the current situation. And, what alternatives appear in the consumer? 43.3% would choose to change the purchase of a combustion car for an electric or plug-in hybrid. On the other hand, 4.4% would opt for carsharing as a formula to face the prices of gasoline and diesel.

Concern about the price of gasoline

However, the price of fuel is not the only concern of the consumer. The study also warns that the price of electricity is negatively influencing the consumption habits of customers. The study indicates that buyers fear losing the lower energy cost of electric vehicles compared to a combustion model due to the difference in price between electricity, diesel and gasoline.

In this way, 46.3% of those surveyed would decide to stop buying an electric car until the situation improves. Only 25.8% would go ahead with their decision.

The semiconductor crisis

The report also analyzes how the semiconductor crisis is affecting it, confirming that there are still long waiting lists when it comes to buying a new car. Among those who intend to buy a new car, 49% of them say that they would wait as long as it takes to have their new car of the desired brand.

However, 33% would choose to look for other vehicle brand options that are more readily available. Only 11% would change their option to purchase a VN for a VO to have it sooner.

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