From the article.
Quote:
Gas Prices: Between 2002 to 2011, inflation adjusted gasoline prices doubled. This has a two fold impact. In the short term, drivers will skip the opportunity to take multiple trips. Over the long term, consumers will change their lifestyles. They may choose to live closer to work, use public transportation, or purchase a fuel efficient vehicle.
Recession: Workers drive more than non-workers. During the boom years between 1970 and 2000, labor force participation increased from 60% to 67.3%. Since 2000, labor force participation has declined to 63.6%. While much of this is due to the recession, falling rates will continue as the baby boomer demographic begins to retire.
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When the recession of jobs stops, I predict more driving.
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My uncle has a country place, that no one knows about. He said it used to be a farm, before the motor law.
'72 911T 2,2S motor
'76 BMW 2002
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