Robert Lutz, vice chairman of global product development for General Motors, issued a warning at a recent lunch I attended that may concern buyers of high-horsepower cars like the Mustang, Corvette and even Porsche.

Looking into the future, when the new federal mandates on fleet fuel economy will demand an average of 35 miles per gallon, Lutz believes there will be little or no room for cars with high horsepower ratings.

The message is clear: If you love these types of vehicles, now is the time to buy them (despite soaring gas prices) because they are going the way of the dinosaur.

Lutz specifically said the new 2009 Camaro, which will hit showrooms around January, may only have a lifespan of three or four years.

He said V-8-powered cars of all styles are likely to be supplanted by V-6 models or four-cylinder versions with a boost from a hybrid electric power plant.

Manufacturers may be able to get the fuel mileage -- city and highway combined -- for trucks and sport utility vehicles to 30 miles per gallon. But for each of those vehicles they sell, they'll have to sell a sedan that gets 40 mpg or more to meet the fleet average.

That means there's little chance GM will continue to build cars like the new Corvette ZR1, with its supercharged, 6.2-liter V-8 that produces 620 horsepower.

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The coming rules could mean a big pullback in U.S. offerings for manufacturers like Porsche that have fewer types of vehicles to spread the mileage mandate. After all, it's hard to imagine a Porsche Cayenne SUV or a Turbo Carrera easily averaging 35 mpg.

What does this mean if you're in the market today for one of these cars?

In some regards, now is a good time to buy. Sales of V-8 machines are understandably down due to higher gas prices. And if such vehicles are your pleasure, there are rebates and deals to be had. The added incentive of "get it now, or you've missed your chance'' may also come into play.

Students of history will be quick to point out that we've seen this situation before.

In the 1970s, OPEC oil embargoes and power-strangling emission rules caused the death of the muscle car and, at one time, reduced the mighty Corvette's engine to less than 200 horsepower.

But technology -- spurred by consumer demand -- eventually returned horsepower to all vehicles. On average, today's cars are the most powerful ever produced.

So skeptics might view Lutz's remarks as nothing more than a sales ploy designed to move slow-selling vehicles off lots now before the 2009 models arrive.

But barring a change in the federal mandates, the new fuel economy rules will change the automotive landscape.

And it could be a long time, if ever, before high-horsepower cars make a comeback.

Here are this week's reader questions:

• High-horsepower cars zoom to extinction • What is a simple-interest loan? • Which Web site lists the best leases? • How can I get my money-back guarantee?

If you have a question for Terry, e-mail him at Driving for Dollars. Save money on your car -- sign up for Bankrate's new weekend Car & Money newsletter.