Who says there is no market for low cost fuel efficient cars?
"The icon of America's SUV passion falls victim to stubbornly high gas prices and an increasingly stringent regulatory climate.
Latest Market Update
January 23, 2008 -- 16:25 ET
[BRIEFING.COM] There are volatile markets and then there are volatile markets. Wednesday's session was the latter variety, which is to say it was truly volatile.
Americans bought more Toyota Prius hybrid gas-electric hatchbacks last year than Ford Explorer sport-utility vehicles, the top-selling SUV for more than a decade.
The change of fortune, buried in U.S. vehicle-sales data for 2007 and unthinkable a few years ago, will find an echo at this year's Detroit auto show, which starts Sunday.
While Americans' love for powerful gas guzzlers remains strong, a slowing economy and high gasoline prices are forcing buyers to lower their sights."