Earlier this summer the Obama Administration hammered together new MPG standards for the auto-industry. By the year 2025 the industry-wide mileage standard will be 55.4 MPG for passenger cars. As expected, folks from the auto industry balked at the increases saying that this will increase the cost of building these vehicles which would then be passed along to consumers.
It even looks like President Obama’s National Highway Traffic Safety Administration and the EPA agree with the auto industry. These agencies predict that…”CAFE standards would add an average of $2,000 to the price of each new passenger vehicle.