A group representing General Motors (GM.N), Toyota Motor (7203.T), Volkswagen (VOWG_p.DE) and nearly all other major automakers on Monday sharply criticized the Biden administration proposal to drastically hike fuel efficiency requirements.
Newly assembled vehicles are parked at the Toyota Motor Manufacturing plant in Baja California, Tijuana, Mexico May 31, 2019. REUTERS/Jorge Duenes/File photoand nearly all other major automakers on Monday sharply criticized the Biden administration proposal to drastically hike fuel efficiency requirements.
The industry group argued the plan would boost average vehicle prices by $3,000 by 2032 because of penalties automakers would face for not being in compliance, adding the figure "exceeds reason and will increase costs to the American consumer with absolutely no environmental or fuel savings benefits."requirements by 2% per year for passenger cars and 4% per year for pickup trucks and SUVs from 2027 through 2032, resulting in a fleet-wide average fuel efficiency of 58 miles per gallon.
NHTSA said its rule "is focused on saving Americans money at the gas pump and strengthening American energy independence," estimating combined benefits of its proposal exceed costs by more than $18 billion.y rating for EVs in NHTSA's CAFE program, saying it would "devalue the fuel economy of electric vehicles by 72%."
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