Wow, what a complex and broad topic. There are so many complexities; it is tough to give a definitive prediction. I think I am repeating alot of what TDImeister already said, as I agree with his outlook on the short term trend.
Personally, barring any drastic changes and given a short term timing of 10 years, I fully expect to have 300k+ miles on my ’03 TDI and in a 5-6 years maybe I will also have their newer CR TDI in my stable after VW proves out the durability on the new engine and/or fixes any bugs.
Short term (i.e. next 10 years), I don’t expect the offerings at the North American dealers to change drastically. More offerings of downsized engines, a slow decrease of vehicle weight, start/stop technology (i.e. mild hybrids), a few expensive full hybrids, plug in hybrids, better energy storage (batteries), and more 6-8 speed transmissions. The real question is, will it be cost effective to the consumer for these more advanced technologies? When talking current or slightly higher US fuel prices… NO.
Politics and CAFE will force the Automakers for these development changes anyways or they will penalize the automakers, so I fully expect people to hold on to their used cars longer and resort to having them re-built/overhauled more. People will also start to drive less and try to work closer to home, but will always have the need to drive. This same thing that happened in the 80’s with the then increase of CAFE.
Because EU and Asia markets are not controled by CAFE legistation, but instead by higher fuel prices, I would expect a slow change. Barring any new development in political CO2 controls, there is no need for changes. LPG/Erdgas is the current upward trend in Germany, as Diesel was a decade ago, but this is all to do with taxation regulation. I think most in the EU realize that all of this improved technology costs money, is not worth the cost of the amount of fuel saved.
My long term solution is a little pessimistic. In 40 years, given the current rate of population increase, we will have 3-4 billion more mouths to feed. Our resources (food/water/energy) will not grow at the same rate, and may have already reached their peak.
I would like to think that some countries learn to live will much less (yes, my home country of the US being the worst offender), and hopefully are not resorting to burning FOOD in their SUVs and burning away the worlds supply of Natural Gas for electricty to live their lavish lifestyle. I would also like to think that we all learn to live at an equal standard of living, but I do not put much hope into this.