"U.S. Auto Sales Take a Hit as Gas Prices Soar: Imports Plummet 16 Percent Amid Rising Fuel Costs. Despite a decline in overall sales, hybrid vehicles saw a surge in popularity as gasoline prices topped $4 per gallon, with major manufacturers like Toyota, Honda, and Hyundai reporting significant increases in hybrid sales. As consumers opt for more fuel-efficient options, the industry is bracing for a shift in market trends, with some analysts predicting a long-term shift away from gas-guzzling vehicles. Meanwhile, the average incentive offered to buyers rose, suggesting that automakers are trying to make up for lost ground in a cooling market."
U.S. auto sales declined 6.7 percent in April with imports falling 16 percent. Hybrid sales surged at Toyota, Honda and Hyundai as gasoline prices topped $4 per gallon. Average incentives rose to ...
