That question has automakers and the new owner of General Motors deeply worried,according to the NYT. Will there be pent-up demand once the recession ends or have Americans lost their taste for cars?
My money is on the latter – too bad my tax money is already bet on the former. The new CAFE standards and adoption of California’s air pollution controls will dictate tiny, expensive and underpowered cars in the future. That’s dull and boring and hardly likely to convince someone to go into debt to purchase one. I’m undecided whether to hang on to my 2003 Honda or buy a new one in a year or two before the new standards hit but I’m leaning toward buying one last normal car and hoping it lasts until my grandchildren take my keys away from me.