New federal gas mileage rules proposed Wednesday will add thousands of dollars to the cost of new cars. But in the long run, regulators say, drivers will spend less on gas, outweighing the additional cost at the dealership.
America's top three automakers reported June sales gains that were largely in line with expectations, as retail demand for fuel efficient cars remains strong.
General Motors CEO Dan Akerson said his company and his industry would be helped, not hurt, if consumers paid higher gas taxes.
Despite higher gas prices, auto sales rose in the Untied States in April, including a larger-than expected gain for General Motors.
If you're in the market for a new car, but especially if you're looking at a fuel-efficient Japanese model, experts say you're better off buying now because prices will only get higher in coming weeks as the effects of the earthquake in Japan and the unrest in Libya and the Middle East start to be felt.
Citing improved financial performance, General Motors announced Thursday it was withdrawing a $14.4 billion application it had filed with the Department of Energy.
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