General Motors has released a statement fully acknowledging its agreement on the new federal fuel economy regulations that will require a 54.5 MPG corporate fleet average by 2025, which is a number composed of a targeted 62 MPG for cars and 44 MPG for light trucks, full-sized vans and SUVs. These numbers are nearly double today’s current standards and will be a 5 percent annual increase in efficiency starting 2017. The results of which will hopefully stem America’s reliance on foreign oil by an estimated 2 million barrels per day, as well as hopefully saving consumers money at the pump.
While we’re fully confident that The General can meet these goals, our thoughts are on the kind of development and manufacturing costs that will needed to accommodate such lofty numbers. Some speculate that it could tack on as high as an additional $10,000 for some vehicles, while others claim more modest numbers. Still, everyone (except the government) expects the cost of a new car to go up in the future, and it makes us wonder where the automotive sales market volume overall will end up.
If such things turn out to be true, do you see yourself jumping right into a new vehicle? Or perhaps finding a more affordable alternative in the used car market?