For there to be a major shift in the industry, prices have to go well above 3 a gallon and remain there consistently. If you do the math it's still going to take many, many years to recoup your extra price through gas savings.
More Quotes from Tom Libby:
Now about 52 percent of the industry is trucks.Tom Libby
The Lincoln brand itself is suffering greatly right now, and in order for any car from Lincoln to be a hit or a home run, it's going to have to be a superstar.
Tom Libby
The deal will fade, but the vehicle will be with you for years. Get something that you'll enjoy, that holds its value, because you'll have to live with it down the road.
Tom Libby
Toyota tends to have more products in each segment. Honda goes much slower -- for example, it's not in pickups at all. But they watch and when they execute a product, they do it almost flawlessly so they immediately have a leader in the segment.
Tom Libby
Both Toyota and Honda have about the shortest turnaround times between model changes than anyone else in the industry. They replace a model now every five years or so.
Tom Libby
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