How did the oil crisis of the 1970s transform the cars Americans drove?

The 1973 and 1979 oil crises sent gasoline prices soaring and created long lines at gas stations. American consumers abandoned large V8 sedans for fuel-efficient Japanese imports. Toyota, Honda, and Datsun (Nissan) captured massive market share. The crises forced American automakers to build smaller, more efficient cars — a transition they resisted and that Japanese manufacturers were years ahead in perfecting. The oil crises permanently changed the balance of automotive power from Detroit to Tokyo.