"The question now, since it's gradually rising, is atwhat point psychologically are people going to be saying, 'Oh my gosh, I just spent triple digits to fill my tank,'" Fields said.
GM Chairman and Chief Executive Daniel Akerson said rising oil prices would dampen the industry's profitability by skewing sales toward smaller vehicles, with smaller profit margins.
In my mid-Michigan neighborhood, I see lots of SUVs and light trucks. As gas prices climb, I wonder if my neighbors will continue paying big bucks to fill their gas tank to go to work or will they keep their big vehicle in the garage.
Anybody paying more than a hundred bucks to fill their gas tank? What's your limit?
According to the above article from today's Detroit News auto executives are concerned and hoping that they have the flexibility to change their production to consumers demands.