Source: NYT > Business (paywall)
Rather than treating high gas prices as a temporary shock, American consumers are making durable changes—buying efficient vehicles and reducing miles driven—that persist even after prices normalize. The auto industry faces structural demand headwinds that won't reverse with geopolitics alone, forcing manufacturers to genuinely compete on efficiency rather than simply wait out the cycle. Efficient car makers and EV manufacturers gain; legacy gas-guzzler segments lose. Vehicle portfolios will shift accordingly over the next decade.