During the oil crises at the beginning and end of the 1970s, soaring prices changed consumer tastes almost overnight. Detroit auto makers were devastated each time because most of their products were gas-guzzlers and they could not revise their lineups fast enough. Is history about to repeat itself? Fortunately for General Motors Corp., Ford Motor Co. and Chrysler Group, the product-creation process is conspicuously different this time around. Back then, there was a huge gap in product ...

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