The American auto market is about to change. It will begin to look more like the world markets, where higher gasoline prices force motorists to pay more for better fuel economy. Detroit’s Big Three and their U.S. suppliers better get ready. Thanks to cheap gasoline, the U.S. historically had the most protected auto market in the world. Our low-tax fuel prices allowed us to indulge in big vehicles with big engines, effectively working as a barrier to foreign auto makers, which needed to ...
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