Oil price rise seen endangering U.S. auto market

Already reeling from the consumer flight from SUVs and trucks, U.S. automakers now face the risk that higher oil prices will trigger a sales downturn of the kind that the auto industry has not seen in more than a decade, analysts said on Friday.

“If gas settled $4 a gallon, like it has at $3 a gallon, then I think we could anticipate consumers changing their buying habits,” said Rebecca Lindland, auto analyst with consulting firm Global Insight. “One of the things they may do is just stay out of the market altogether.”
Reuters