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May14
Is the Auto Industry Poised for a Major Overhaul?

In January, I wrote about the world's cheapest car, the Tata Nano.  Now, the U.S. market's smallest car, the 2008 Smart ForTwo micro car, is getting some press with its recent top-rated crash test performance.  Just yesterday, I read that the auto industry has witnessed a shift this year with more people searching for and buying cars than SUVs in 2008 vs. 2007, and searches for the Toyota Prius hybrid car are higher than ever.smart%20car%20fortwo%20smallest%20car.jpg

What does this mean for the car industry?  Are changes finally going to take place on a wide-scale to help Americans become less reliant on oil and drive more efficient, eco-friendly cars?  Or will Exxon continue to make more money than just about any other company in the world year after year as consumers cringe at the gas pump watching gas prices rise to budget-breaking heights?

Unfortunately, I don't think the industry will change fast enough.  These new product introductions and the slow and small shift in consumer purchasing habits give me hope that we're on the right track, but we have a long, long way to go. 

What do you think?


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