At the end of last month, the Obama administration announced that manufacturers would be required to build cars with much higher average fuel economy ratings, but at what cost?
The Obama Administration today finalized groundbreaking standards that will increase fuel economy to the equivalent of 54.5 mpg for cars and light-duty trucks by Model Year 2025.
According to the American Energy Alliance (AEA), current standards have increased new car prices by as much as $6,0000 and the new rules will make things much worse.
New car prices will be affected first as the CAFE standard will require costly research and development and likely more expensive components. As new car prices rise, the used car market will see increased demand and higher prices.
To help consumers understand the impact of government regulations, the AEA released a video that explains just how the Obama administration’s overzealous rules hurt working people.
Nelcy Grande was able to buy a car and start her own cleaning business, which allowed her to send her daughters to college. Nelcy was able to achieve her dream, but the Obama administration’s fuel economy mandate could prevent millions of people from purchasing a vehicle and achieving theirs.
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