Car buyers lighten up

High gas prices drive buyers toward smaller, fuel-efficient vehicles.

NEW YORK (CNNMoney.com) — Reports released Thursday by top automakers affirmed the continuing shift in vehicle sales: Record-high gasoline prices are prompting more consumers to switch to smaller cars.

GM General Motors, the world’s largest automaker, said sales of light vehicles fell 16% to 257,638 in April. Edmunds.com had predicted sales of 282,000.


The shift wasn’t a total surprise as gasoline prices have been rising – nearly every day – to new record highs.

Sales of light trucks, which include SUVs and pickup trucks, dropped 27% while car sales dropped only 0.2%. The company saw sales increases of its mid-sized sedans such as the Chevrolet Malibu, and its crossover SUVs, which are more fuel efficient than their full-size cousins.

CNN