According to Hankook Tire‘s latest Gauge Index, a survey of Americans’ attitudes and opinions about driving, rising prices have many finding ways to cut back. However, the survey found that there is one expense consumers are not willing to be cheap with: car maintenance.
The latest survey found that when it comes to vehicle maintenance, 61% of Americans say they are not willing to sacrifice cost or quality.
The survey also found:
- Just as driving frequency approached pre-pandemic norms, an overwhelming majority (78%) say rising gas prices are now impacting daily driving.
- Over half (54%) of Americans say that in the last 30 days, they have driven less often as a result of the cost of gas—up 28% from March 2022, when gas prices first began to tick upwards.
- Gas prices are also proving a powerful incentive for those considering an electric vehicle. About one in four (26%) say because of current prices, they plan to purchase an electric vehicle in the future. Further, 51% say less money spent on gas is the most appealing benefit of making the switch.
- Rising costs are not just impacting gas prices and how often people are driving. Over a quarter of Americans (26%) say inflation is causing them to perform more basic maintenance tasks at home, too.
