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| Title: | Economic indicators as predictors of the number and fuel economy of purchased new vehicles |
| Authors: | Sivak, M.
Schoettle, B. |
| Issue Date: | Jul-2009 |
| Publisher: | University of Michigan, Ann Arbor, Transportation Research Institute |
| Abstract: | This study examined the relationship between two economic indicators—the unemployment rate and the price of gasoline—and purchase decisions of new vehicle buyers. Two regression analyses were performed, one focusing on the number of vehicles
purchased and the other one on their fuel economy. Both analyses used monthly data from
October 2007 through April 2009. There are three main findings. First, during the 19
months examined, the average fuel economy of purchased light-duty vehicles improved by
a substantial amount—1.1 mpg. Second, both the unemployment rate and the price of
gasoline contributed significantly to accounting for the fuel economy of purchased
vehicles in the expected positive direction. Third, while there was a significant negative
relationship between the unemployment rate and the number of vehicles purchased, the
price of gasoline did not significantly increase the predictive power of the model. |
| Other Identifiers: | UMTRI-2009-27 |
| Other Identifiers: | 102302 |
| Appears in Collections: | Transportation Research Institute (UMTRI)
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Files in This Item:
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Description |
Size | Format | |
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| 102302.pdf | | 463Kb | Adobe PDF | View/Open |
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