U.S. auto giants race to go small

The auto industry is rushing to adapt to the world of $4-per-gallon gasoline, but the effort is a costly one that could tax America’s homegrown carmakers most of all.

From Honda to Ford, all the automakers are ramping up production and design of high-mileage small cars and gas-electric hybrids. But consumers shouldn’t hold their breath for hot deals on 50-mile-per-gallon vehicles.

The challenge: Product line make-overs can’t be accomplished overnight, and a deep slump in current sales is burning through the cash available for investment.

CSMonitor