Gas prices continue to rise these days and bank accounts aren’t the only things being affected among consumers. According to a recent study, the average fuel economy of new cars purchased is also rising – no doubt an indication that unfaltering price increases at the pump have made a significant impact on driver's buying decisions.
According to the study performed at the University of Michigan, the average fuel economy of new cars purchased this past March was 24.1 MPG. At the beginning of the year the average was 23.6 MPG, due both to consumers’ new considerations for fuel economy, and the increased availability of vehicles that can deliver higher MPGs.
The basic concepts of the study aren’t terribly surprising, but it is interesting to see the rate at which customers and manufacturers adapt to rising gas prices. The same study showed that average gas mileage in 2007 was just under 21MPG, back when gas prices were around $3 per gallon.