What Europe Can Teach Us About Gas

Analysts see rare year-over-year drop in US vehicle fleet

(NEWSER) - As more US families give up second vehicles in favor of public transportation, “it’s very likely the fleet will shrink next year,” an industry analyst tells Bloomberg. The number of cars on the road has gone down only nine times in the past century, and another decrease would mean even more bad news for automakers. More»

Plummeting gas prices haven't driven us back to cars ... but now fewer have jobs to commute to

(NEWSER) - Dramatic increases in public transportation ridership have outlived sky-high gas prices, but the souring economy could reverse the trend, USA Today reports. Nationwide, third-quarter ridership was up 7% compared to last year, spurred by $4-a-gallon gas in July. Some municipalities saw almost 20% more commuters on their trains and buses. But people without jobs don't need any form of transportation for commuting. More»

Trading down to save money on gas results in higher premiums

(NEWSER) - Think you’re saving money by driving that small, fuel-efficient car you traded in your SUV for? Maybe, but you’re probably paying more for your insurance—a lot more, reports the Wall Street Journal. In accidents, small cars tend to sustain more damage, and occupants more injures, than larger vehicles. Hence a Honda Civic, for example, incurs higher premiums than the company’s larger SUV CR-V. More»

(NEWSER) - General Motors will invest $500 million to build its new compact car in the US, the Detroit News reports. The Chevrolet Cruze, expected to get about 45mpg, will go into production in 2010 in Lordstown, Ohio. The ailing automaker, once heavily reliant on SUVs, continues to alter its production line to meet demand for small, fuel-efficient cars. GM's US sales are down 18% this year, led by a 23% decline in truck sales. More»

Consumers viewing fuel efficiency as 'one factor' again

(NEWSER) - Oil prices have been falling since mid-June, and though it’s debatable whether speculators or market fundamentals drove the boom (and now possible bust), it is clear that $4 a gallon gas crimped demand. But for how long? With prices now again below that psychological threshold but still $1.19 more than a year ago, auto industry data suggest that even mild relief could reverse the trend toward fuel efficiency, the LA Times reports. More»