Ninety-Five Percent of Edmunds.com Survey Respondents Report Making Changes to Lifestyle as a Result of High Gas Prices

FOR IMMEDIATE RELEASE

Ninety-Five Percent of Edmunds.com Survey Respondents Report Making Changes to Lifestyle as a Result of High Gas Prices

SANTA MONICA, Calif. — July 8, 2008 — Are consumers taking drastic steps to burn less fuel and save money? Edmunds.com, the premier online resource for automotive information, today released the results of its survey showing how consumers are rapidly adapting to the rising costs of gasoline.

"This is a fascinating insight into how quickly consumer behavior is changing in response to high gas prices," said Philip Reed, Edmunds.com Senior Consumer Advice Editor. "Based on the results of the survey it appears we are moving into a very different era both on the highways and in the showrooms."

The survey, available to all Edmunds.com home page visitors between June 20 and June 25, asked visitors to respond to several brief questions. The 1,312 responses indicated the following:

• 95 percent of respondents report making changes to lifestyle as a result of high gas prices
  • Nearly 50 percent are driving fewer miles or combining errands to reduce fuel consumption
• 93 percent of respondents have changed the way they drive or maintain their vehicle
  • 44 percent of respondents report driving slower or less aggressively to increase fuel economy
• 35 percent of respondents say they are already in the market for a more fuel-efficient vehicle
  • Over 50 percent will be in the market if gas reaches five dollars per gallon
• Consumers are generally optimistic that fuel prices won't rise much more in the near future
  • 73 percent believe the national average gasoline price will be under five dollars per gallon during Labor Day weekend
    (August 29 – September 1, 2008)

Additional survey results and commentary is available on the Edmund.com Karl On Cars blog, located at: http://blogs.edmunds.com/karl/2008/07/edmundscom-gas-price-survey-95-of-respondents-report-changing-lifestyle.html.

About Edmunds
Edmunds.com publishes three Web sites that empower, engage and educate automotive consumers and enthusiasts. Edmunds.com, the premier online resource for automotive consumer information, launched in 1995 as the first automotive information Web site. Its most popular feature, the Edmunds.com True Market Value^® , is relied upon by millions of people seeking current transaction prices for new and used vehicles. Edmunds.com was named "Best Car Research Site" by Forbes ASAP, has been selected by consumers as the "Most Useful Web Site" according to every J.D. Power and Associates New Autoshopper.com Study(SM), was ranked first in the Survey of Car-Shopping Web Sites by The Wall Street Journal and was rated "#1" in Keynote's study of third-party automotive Web sites. Inside Line launched in January 2005 and is the most-read automotive enthusiast Web site. CarSpace launched in February 2006 and is an automotive social networking Web site and home to the oldest and most established automotive community. Edmunds is headquartered in Santa Monica, California, and maintains a satellite office in suburban Detroit.