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Swapalease.com, the nation’s largest car lease marketplace, analyzed four of today’s most popular fuel-sippers against four of today’s most popular large trucks/SUVs to see if low gas prices are impacting consumer demand. The company analyzed search and consideration data from 2013 against 2014, when gas prices fell continuously through the end of the year.
The analysis showed that some small cars remained in healthy demand, while others did not. The analysis showed the same for larger trucks and SUVs. “The fact that we’re seeing an inconsistent pattern into the beginning of 2015 tells us that gas prices aren’t having an across-the-board adverse effect on smaller cars and EV/hybrid vehicle demand,” said Scot Hall, Executive Vice President of Swapalease.com. "Similarly, it also tells us that truck shoppers may not be flocking to every model just because gas prices are extremely low in many places today."
As an example, the Chevrolet Tahoe saw the largest year-over-year increase in search and consideration on the Swapalease.com marketplace at 52.5%, but the second-largest increase was the Chevrolet Volt at 50.8%.
Conversely, The Ford Expedition saw the largest drop in search and consideration YOY at -35.4%, but the second-largest drop was the Honda Fit at -25.6%.
Headquartered in Cincinnati, Ohio, Swapalease.com is the world’s largest automotive lease marketplace and the pioneer in facilitating lease transfers online. More specifically Swapalease.com matches individuals who want to get out of their lease with people who are looking for short-term lease agreements. Prospective buyers can search the listings for the exact vehicle they want, and then register for a nominal fee, allowing them to use Swapalease.com’s safe online system to contact the prospective seller and close the deal.