Higher energy prices have stopped the steady US market share gains that light trucks and sport utility vehicles have made for years, DaimlerChrysler chief executive Dieter Zetsche reportedly said on Wednesday.
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“Although it is clear to see heightened environmental awareness of late among customers, in America as well, I do not expect a serious shift from light trucks to passenger cars,” he told the annual shareholders meeting in response to a question, according to Reuters.
“But the rise in the light truck segment over the past two decades at the expense of passenger cars has probably come to a halt,” he added.
“Only if petrol prices would remain well above $US3 a gallon for a long period would we see a reverse of this trend as likely,” Zetsche said, adding the group’s line of cars left it well placed to handle any such development, Reuters said.
US TV network news bulletins on Tuesday evening led with reports that petrol prices for the upcoming summer driving season were expected to be 25 cents a gallon above last year. Petrol is already over the $3 a gallon mark in California.
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