With the price of gas on the serious rise across the country, it’s not surprising that many Canadian are rethinking their plans for the upcoming summer holidays.
Toyota commissioned the Ipsos firm to survey Canadian motorists to see what higher gas prices are doing to their summer road trips plans. Some 2,000 people were surveyed in all.
Predictably, the majority of respondents are concerned by the ratcheting up of gas-pump pain.
To begin with, 78% of those who took part in the survey said that they take gas prices into account when planning a road trip in their car. This year, 47% of Canadians report that those gas prices reduce the chances they and their families will take to the road this summer. Just over a quarter, or 27%, say they’re seriously considering scrapping their planned trip due to the higher cost of gas.
Summer road trips aren’t the end of it either. For 62% of Canadians, the recent surge in gas prices is having a negative impact on their finances overall.
Of course, the same survey shows that over half of Canadians still plan on going ahead with their road trip. In fact, a growing number of motorists say they’re considering a long-term solution to steep gas prices, in the form of an electrified vehicle. The recent introduction of the federal government’s iZEV incentives program has undoubtedly helped open up some minds to the idea of an EV of hybrid vehicle.
The Ipsos study also revealed that, after price, fuel efficiency is the second biggest priority for car shoppers in Canada.
Toyota, for its part, sees a real link between higher gas prices and sales figures for its electrified vehicles. April 2019 saw the carmaker’s hybrid-powertrain vehicles’ sales account for 16.7% of overall sales – a record percentage.
Looking at the effect of higher fuel prices on consumers’ habits overall, the survey found that:
44% of respondents say they’ll use their car less
37% report not being able to save as much
29% have cut back on entertainment and eating out
23% have changed their summer vacation plans in order to shorten any drives
19% have taken on more debt
Clearly, the price of gas does have a tangible effect on people’s habits, and it also impacts prices of consumer goods. This makes for a double whammy on consumers. Now we have to see when the surge in pricing levels off or, eventually, when gar prices start to recede.
Meanwhile, there’s coast-to-coast belt-tightening.