Print

Mail

wiki links

Fuel prices sinking in for consumers

More than 90 percent of local consumers are feeling the pinch of rising fuel prices, and 17 percent may turn to motorcycles or public transportation to cut their expenses, according to a survey released by market research firm ACNielsen yesterday.

The survey, which was titled "You don't need to own a car to be worried about escalating fuel prices," found that consumers in 42 countries evidently realize that, whether they own a car or not, fuel prices affect the economy and their cost of living.

Seventy percent of respondents said they own a vehicle, and 82 percent of car owners said they've taken a financial hit and have been forced to change their lifestyles.

Respondents said that the most common ways of coping with price hikes are using one's vehicle less, combining trips or carpooling, and cutting down on non-essential living expenses.

But this phenomenon is not necessarily a bad thing for automobile manufacturers, the report said.

"An opportunity exists for global car marketers in Turkey, China and South Africa, where up to one fifth of consumers are eager to consider trading their vehicle for a more fuel-efficient one," said Jennifer Tsai (蔡翠真), executive director of Customized Research at ACNielsen Taiwan.

"With global hikes in oil prices year after year, we can expect consumer demand to further develop in this direction," she added.
This story has been viewed 1529 times.