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Article: Power Information Network Reports: Rising Gas Prices Begin to Sway New-Vehicle Owners Toward Smaller Versions of Trucks and Utility Vehicles.
- Article from:
- PR Newswire
- Article date:
- May 16, 2007
CopyrightCOPYRIGHT 2007 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Demand for Small Vehicles Increases as Gas Prices Rise
WESTLAKE VILLAGE, Calif., May 16 /PRNewswire/ -- Rising gasoline prices have some owners of large and midsize trucks trading to smaller vehicles, according to real-time retail transaction data from the Power Information Network (PIN), a division of J.D. Power and Associates.
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Gasoline prices have surged more than 20 cents in recent weeks to a record nationwide average of $3.10 per gallon, surpassing the previous record of $3.07 per gallon set in September 2005, according to the U.S. Energy Information Administration. As gas ...