Average Fuel Economy Up for New Cars Sold in the US Last Month image

According to University of Michigan researchers, average fuel economy of new cars sold in August in the US has increased for the first time in the past five months.

A report by the university’s Transportation Research Institute, shows that the average fuel economy for the new vehicles sold in August in the States was of 23.8 mpg. This means that August was the 4th best month on record, with an increase of 18% (3.7 mpg) from October 2007, when the institute started to track monthly data.

Researchers believe that the 0.2 mpg increase from July to August reflects the increased gasoline price. On July 1st the average price for self-serve regular gasoline was $3.43 and on August 1st it was $3.73, an increase of 30 cents, while at the end of August it was $3.83 a gallon, an increase of other 10 cents.

But although the gasoline price increased, this did not stop customers from buying new cars and trucks, as they are beginning to replace their old vehicles with improved fuel efficient ones. In August the demand for light vehicles in the US increased 20% and the car sales were up 27%, surpassing the 13% increase in light truck sales.