General Motors Chief Financial Officer Paul Jacobson stated on Wednesday that despite rising gasoline prices due to the Iran conflict, the company has not observed significant changes in sales. Consumer purchasing behavior has not yet shifted toward fuel-efficient models in response to higher fuel costs. Speaking at a Bank of America Securities conference, Jacobson noted that weather conditions and low inventory for certain models—particularly trucks preparing for a new full-size version launch—had a more noticeable impact on first-quarter sales than other factors.

The executive cited historical trends, explaining that it typically takes four to six months of sustained high fuel prices before consumers begin considering more fuel-efficient vehicles or reducing their budgets. He indicated that such a trend has not yet emerged. This statement comes as U.S. gasoline prices have risen sharply. According to data released by the U.S. Energy Information Administration on Tuesday, the national average price for regular gasoline has increased by 27% since late February, reaching $3.72 per gallon.

General Motors' optimistic outlook contrasts with broader market concerns. Since the escalation of conflict between the U.S.-Israel alliance and Iran on February 28, which disrupted shipping through the Strait of Hormuz, Brent crude prices surged by as much as 13%. Many worry that persistently high energy costs will reduce consumers' disposable income and weaken overall spending. Earlier this week, companies reliant on travel and discretionary spending saw their stock prices fall significantly due to energy-related pressures. However, Jacobson's comments suggest that General Motors believes its product portfolio and consumer demand remain resilient to the impact of rising oil prices.