As of May 2008 cars are outselling Ford F-series for the first time since 1992. Gas prices played a big part in the shift to more fuel efficient vehicles. GM CEO Rick Wagoner doesn’t think it’s a temporary spike and Sean McAlinden, chief economist with the Center for Automotive Research in Ann Arbor, suggests the US car market will resemble Europe’s in five to ten years. Smaller, more fuel efficient vehicles are in our future.
GM has already closed four factories and may drop the Hummer from its line of vehicles.
Bicycle companies may be a hot investment in the coming months if fuel prices keep climbing.