GM executive admits consumers are feeling the effects of higher gas prices.
Buyers are shifting away from trucks and SUVs.
A rise in gas prices typically takes longer to impact consumers.
Speaking during briefing seminars at the Center for Automotive Research in Ypsilanti, Michigan, General Motors North America President Duncan Aldred said that high gasoline prices are driving consumers away from expensive pickup trucks and SUVs. The seminars were originally reported on by Automotive News. Aldred said:
'I'm not going to sit here and say it's permanent yet. But we are seeing somewhat of a shrinking of pickup trucks, full-size utilities, and some of the heavier [vehicles] and an increase in the more affordable segments of the industry.'
