The Obama administration will formally propose new fuel efficiency standards in September, but recent meetings with domestic automakers reveal that the administration is gunning for a 56.2 mpg standard for cars and light trucks by 2025.
The new standard would be a huge jump from the current 30.2 mpg standard for cars and 24.1 mpg standard for light trucks.
The White House will hold more meetings with both domestic and foreign automakers and the numbers could change before September. According to reports, the initial proposal would require automakers to increase fuel efficiency by an average of five percent each year over years 2017 to 2025.
If the 56.2 mpg standard were to be finalized, the cost of new cars could increase by $2,100 - $2,600, but consumers would actually save $5,500 - $7,000 in fuel costs over the life of the car and the extra cost of the car would made back within about 2.5 years.
via The Detroit News
written by Anna, June 28, 2011
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