Rising Gas Prices Impacting Driving, Say 78% of Americans

As Individuals carry on to navigate an evolving financial natural environment, new details from Hankook Tire’s Gauge Index reveals the effect of these pressures on daily driving. 

The most recent study uncovered:

  • Just as driving frequency approached pre-pandemic norms, an mind-boggling greater part (78%) say climbing fuel price ranges are now impacting day by day driving.
  • Over 50 percent (54%) of Individuals say that in the past 30 times, they have driven much less usually as a outcome of the price of gas—up 28% from March 2022, when gasoline price ranges 1st started to tick upwards. 
  • Fuel rates are also proving a highly effective incentive for people contemplating an electric powered motor vehicle. A person-in-4 (26%) say mainly because of existing price ranges, they system to purchase an electric powered car or truck in the future. Even further, 51% say much less funds spent on gas is the most attractive benefit of producing the switch.
  • Rising prices are not just impacting gas price ranges and how typically people are driving. Above a quarter of People in america (26%) say inflation is causing them to complete a lot more standard maintenance jobs at dwelling, much too. 

The index displays supply chain pressures also carry on to impact Americans’ automotive decisions. About a person-3rd (35%) say that thanks to source chain troubles, they are trying to make their existing automobile previous more time. Additionally, 22% are looking at holding off on purchasing a new car completely.

The index displays when the time does arrive to make a buy, supply chain considerations could influence what drivers are hunting for in their following vehicle. The shortages are impacting what technological know-how is offered in new cars, so some consumers may possibly need to have to sacrifice the most up-to-date tech. The Gauge located a single-3rd (32%) say they would be most eager to give up self-parking technologies in buy to buy a new car. Drivers are the very least probable to give up their tire tension checking procedure (TPMS) or automated braking—only 6% are willing to do so.

The Hankook Tire Gauge Index is a study of Americans’ attitudes and views about driving. The most recent study, carried out Could 11-16, 2022, polled 1,060 randomly selected Americans age 18 and older who have a valid U.S. driver’s license. 

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