General Motors has posted a story about how the auto industry and American drivers have responded to high fuel prices over the past few months and the price spikes of the last few years.
Among the many points they make – here are the highlights:
• Small car market share has increased, not only because consumers anticipate higher fuel prices, but because small cars have gotten
better.
• Crossovers have largely displaced traditional SUVs, with a significant increase in overall fuel efficiency.
• Midsize cars with fuel economy estimates of 30 mpg higher will remain mainstays of any automaker’s lineup.
•
Full-size pickups remain an important part of the U.S. vehicle
market. Truck buyers in a recent GM survey said they would drive less,
drive more slowly, or make other adjustments rather than move to a
different type of vehicle.
•
Although most consumers say fuel
economy is important, they still balance gas costs with other
attributes, including functionality, comfort, performance, style, and
safety.
What this really tells us is that American consumers are adjusting to a new belief that fuel prices are likely to remain high for a long time – probably forever.
Consumers don’t want to sacrifice safety and convenience, however, so the changes in the auto market and our driving habits are likely to be gradual, and automakers will redouble their efforts to provide safe, convenient cars that also get good fuel economy. And that’s a win for everyone.