Last week, the Obama administration finalized standards that will increase fuel economy to the equivalent of 54.5 mpg for cars and light-duty trucks by model year 2025. When combined with previous standards set by this administration, this move will nearly double the fuel efficiency of those vehicles compared to new vehicles currently on the road.
The administration’s program estimates it would reduce greenhouse gas emissions and save consumers “more than $1.7 trillion at the gas pump and reduce U.S. oil consumption by 12 billion barrels,” according to a press release.
Last year, 13 major automakers joined Obama in announcing their support for the new standards. “Simply put, this groundbreaking program will result in vehicles that use less gas, travel farther, and provide more efficiency for consumers than ever before — all while protecting the air we breathe and giving automakers the regulatory certainty to build the cars of the future here in America,” said Transportation Secretary Ray LaHood. “Today, automakers are seeing their more fuel-efficient vehicles climb in sales, while families already saving money under the administration’s first fuel economy efforts will save even more in the future, making this announcement a victory for everyone.” (NACS: www.nacsonline.com)