The CEO of General Motors was on CNN last week proudly announcing that, since gas prices are not projected to decline in the foreseeable (and presumably unforeseeable future), GM will slash production of some gas guzzlers and begin production of a couple of new highly fuel efficient models. By 2010. 2010!! What planet are these guys from?
–Why has it take Detroit so long to realize that fuel prices will make it likely that people will want economy cars?
– Why aren’t they more worried about Japanese autoamakers with their hybrids and compact cars taking U.S. market share? 2010? That will give plenty of time for Honda and Toyota to conquer the market— and make Toyoto the number one car maker in the world, finally surpassing GM (Rosen predicts)