Released: November 11, 2007

Car shoppers value fuel over cool

Source: David Lazarus, Los Angeles Times (Free Registration)

Oil prices were near record levels last week, our friends at OPEC were counting their cash and La Cañada resident Alex Hartunian was shopping for a Prius.

“It’s definitely not a cool-looking car,” he decided as he examined a 2008 model selling for $27,848 at a Toyota dealership in Pasadena. “But people are talking about oil going to $100 a barrel. That’s just nuts.”

I was curious to see what effect skyrocketing oil and gasoline prices were having on car buyers. I also wanted to see what the view from the trenches was after General Motors Corp., the world’s largest automaker, reported a $39-billion quarterly loss.

Read Full Article: Car shoppers value fuel over cool