The perennial debate of horsepower versus fuel economy has been settled — in Malaysia, at least — with over eight in 10 buyers saying they would pick more frugal cars over those with better performance.
According to a regional survey commissioned by Ford Motor Company, 87 per cent of respondents said low fuel consumption was their top priority due to a need to save money.
This was followed by 63 per cent who said they did so for environmental concerns and 60 per cent who cited rising fuel prices.
Preference for frugality was driven by a distrust over fuel prices in Malaysia, with 68 per cent saying they do not believe that petrol and diesel prices will remain stable over the next 15 months.
“The rising cost of living due to the unstable economy has had a profound impact on Malaysians’ willingness to spend,” Ford said of the findings.
The desire for a more frugal car did not only affect potential buyers, as the survey found that over one in three existing car owners said they felt remorse for choosing performance over economy.
The survey revealed, however, that Malaysians’ concern with saving cost were very focused on fuel consumption, with just one in three saying they also considered long-term ownership costs such as maintenance when choosing their next car.
Nearly two in three people also said they would not pay more for a car that would save them more in fuel consumption over the long run.
“Fuel efficiency remains one of the top concerns. Drivers continue to be sensitive to fuel costs, no matter what the price is at the pump,” Kevin Tallio, chief engineer (Engine Engineering) at Ford Asia Pacific, said in a statement accompanying the survey results.
Respondents also said they planned to change their driving habits to mitigate rising costs and fuel prices, with nearly half saying they will change how they drove to try and save fuel while over a third said they will drive less.
Many Malaysians also want the best of both worlds. Despite the overwhelming preference for economy over power, over two in three respondents said they also considered performance to be a major factor in their purchase decision.
The desire for strong performance was more prevalent among urban respondents, with 70 per cent saying power would affect their purchase decision versus 59 per cent in rural areas.
Malaysia’s economy is starting to sputter, with Bank Negara Malaysia reporting last month that gross domestic product growth in the first quarter was 4.2 per cent, the lowest in six years.
Malaysians are feeling the pressure of rising costs both due to the slump in the ringgit’s value and the continued effects of the goods and services tax (GST) introduced last year.
Fuel prices in the country are also somewhat volatile, following the government’s decision to abolish direct subsidies and implement a managed float for the pricing of both petrol and diesel.
The survey was conducted by GlobalWebIndex in June and polled 9,509 respondents across 11 countries including 786 from Malaysia.-themalaymailonline
