Abstract (eng)
This thesis examines the impact of drastically rising fuel prices on the purchases of new motor vehicles in Austria and answers the question whether these high fuel prices have encouraged the acquisition of new, more efficient vehicles amongst the population.
Economic studies with a focus on the development of the motor vehicle market in relation to fuel prices, as well as the bearings of such on the consumers’ decision making when buying a new car, introduce the topic. In almost all researches, a significant role is played by the Rebound Effect; which implies that higher energy efficiency causes a change in consumer habits and thus possibly in higher energy consumption. In addition, it will be shown that when deciding on a new vehicle, consumers do generally not bother with calculating actual figures. Neither do they take future advantages nor long-term usage into consideration when purchasing a new car.
In the course of the paper, all registrations of new vehicles in Austria since 2003 are examined. In addition, a more detailed investigation into the various vehicle categories is undertaken. The author has come to the conclusion that increasing diesel prices have had a minor negative influence on vehicle purchases, whereas increasing gasoline prices have had a major positive one. A detailed analysis of the different categories of motor vehicles shows variable results. Furthermore, the positive effects of government sponsored wreckage premiums (cash for clunkers) during the year 2009 on the registration of new cars – which particularly show a significant increase in the purchases of gasoline-run vehicles - are explored. It will be shown that there is a trend towards the acquisition of more fuel-efficient cars, especially amongst the hatchbacks, city cars, and mid-sized sedans. These results are confirmed by a cost comparison between selected gasoline and diesel models of these smaller types of vehicles.
Finally, the effects of fuel prices within states of the European Currency Unit are compared with the result of the ones in Austria. The situation of the American automobile market is investigated as well.