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Eighty-seven percent of new car shoppers last montg said they think gas prices will go much up from 66 percentin April. The prospect of higherd gas prices also is having an impact onpurchasingt decisions. When asked what they would be most likely to compromisew in theirnext new-vehiclde purchase, shoppers cited engine size as the top item likely to be sacrificed, followed closely by vehicle size. In 73 percent of those who saw gas pricesw increasing in May said they plan to changd their spending habits if gas pricesa were to gomuch higher.
"While we may not see the $5-per-gallonh gas experienced in some areaslast year, currentr economic conditions compounded by the pain at the pump may make $3-per-gallonh gas a new threshold for car buyerds – the point at which they change their mind abou what vehicle to buy and how they spendf their money," said Jack R. Nerad, executive editorial directorr and executive market analystt for Kelley Blue Book and in anews release.
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