Say goodnight to the SUV bubble and the associated cheap gasoline consumption bubble.
The guy running GM needs to be thrown out. [Mulally at Ford came in from Boeing a couple of years ago and thus gets some slack.]
Wall Street Journal: Ford Stumble Signals Rising Risks.
Ford Motor Co.'s plan to return to profitability got run over by a truck.
The rise of gasoline prices toward $4 a gallon is causing a major shift in the U.S. auto industry that threatens to push the Big Three auto makers and some of their rivals to a new level of peril. In recent weeks, sales of pickup trucks and sport-utility vehicles -- already falling in recent years -- took an unexpectedly sharp tumble.
In a Thursday conference call, Chief Executive Alan Mulally said the industry has "reached a tipping point" and that the falling truck sales represent a long-term shift in the U.S. auto market, not a short-term dip.
"We saw real change in the industry demand for pickup trucks and SUVs in the first two weeks of May," Mr. Mulally said.