By Leftlane Staff
Monday, Sep 26th, 2005 @ 11:05 am

Soaring gasoline prices are threatening to throw a wrench in General Motors’ comeback plan for 2006, which largely relies on strong SUV sales. The company is readying a new line of sport utility vehicles for 2006 that hope to help stem losses. The company sells more big SUVs than all other automakers combined, according to The Journal Gazette. This August, sales of the truck-based vehicles were down 9.7 percent in the United States after a 6.7 percent decline in 2004. These slumping sales are one reason the automaker lost nearly $1.4 billion in the first six months of this year. Many motorists “had an epiphany at the pumps this year,â€? said David Healy, auto-industry analyst at Burnham Securities. “They can afford the gas, but they’ve started wondering whether they really want to spend that much filling up the tank, and they start looking at smaller, more fuel-efficient models.â€?

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