What Color Is The Sky In That Little World Of Yours, Mr. Wagoner?
"They are too high right now and they will come back down," Mr. Wagoner said of oil prices during a conference at the company's headquarters in Detroit that was broadcast over the Internet. He said consumer behavior isn't expected to be negatively impacted by current gas prices, which are averaging about $2.92 a gallon according to the American Automobile Association.They wish! GM's TV ads have been for a couple years now laden with expensive, heavy, and gas-sucking SUVs; until they get the message that people aren't seeing the cars from them that they want to buy, GM's sales will take a pounding. Here's a hint: drop the SUV ads, and start touting your small, fuel-efficient vehicles. Do it now, or watch your company go into chapter 11.
"We don't expect [oil] to get to a price range when it would affect behavior," Mr. Wagoner said. He said gasoline prices would conceivably need to be well in excess of $3 a gallon in order to significantly hurt consumers.