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September 5, 2008 10:49:53 PM CDT

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High Gas Prices Are Good for Detroit

Posted Jun 9, 08 12:25 PM CDT in Business 

(Newser) – Sky-high gas prices are finally pushing top US auto-makers to turn out fuel-efficient vehicles, and both Detroit and Washington should keep the pedal down to make a permanent change in how, and what, Americans drive, the US top car salesman tells the Wall Street Journal. "You have to tell the American people the truth," the CEO of AutoNation says. "Energy costs will be higher." 

"For once we actually have viable alternatives and exciting technology that are really game changers," Mike Jackson says. "However, if the price of petroleum goes down … it undercuts the viability of new technology." He's wary of rumblings in Congress, particularly in an election year, about pushing gas prices down: "If we have cheap gasoline, it's mission impossible."

Source Wall Street Journal

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Toyota is working on an entire line of hybrid vehicles based on its next-generation Prius, the Wall Street Journal reports.   (AP Photo)
A car passes buy an electric car dealership on Wednesday, June 4, 2008.   (AP Photo/Rick Bowmer)
Barry Thomas replaces the diesel pump after filling up his truck at a station in Little Rock, Arkansas.   (AP Photo)
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auto industry  • General Motors  • energy  • gas  • hybrid car  • fuel costs  • Honda  • cars  • SUVs  • Nissan  • electric


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