New Mileage Standard to Boost U.S. Economy

< New Crash Safety Test Challenges Luxury Vehicles

Back-to-School Driving Tips >

August 24th, 2012 at 2:43 pm

As Ken Czubay stated to the New York Times, “fuel economy continues to be a top consumer purchase driver across the lineup,” and don't we all know it. With gas pricing sky rocketing the soon-to-come announcement on the new mileage standards may bring consumers a sigh of relief. The new standard will be set to have a passenger car or truck with an average 54.5 miles per gallon (mpg) by 2025.

Automakers are not sitting back until then; they have already begun to focus even more on their vehicles' fuel efficiency. Ford has invested $135 million into their design and production of their hybrid vehicles in-house. 300 new workers will be hired on at Honda on the production of the Civic and Volkswagen has added a third shift at their Chattanooga plant to advance the manufacturing of its Passat, (Auto Industry And U.S. Economy Will Benefit Under New Mileage Standards, Mindy Lubber, Forbes, http://www.forbes.com/sites/mindylubber/2012/08/23/auto-industry-and-u-s-economy-will-benefit-under-new-mileage-standards/).

What auto industry professionals and economists are realizing is that the 54.5mph standard is going to be a “win-win-win” for the U.S. Employment and sales will be at a huge high as automakers hire on more bodies to produce these new fuel-efficient vehicles. An independent analyst Management Information Systems Inc. reported in its More Jobs Per Gallon that this new mileage standard would create nearly 700,000 new jobs through the U.S. and over 63,000 in the auto industry, (Auto Industry And U.S. Economy Will Benefit Under New Mileage Standards, Mindy Lubber, Forbes). Lastly, consumers will be spending the money saved on fuel on a vast number other of products and services, even further boosting the economy.

After the huge hit the auto industry took in 2008, it appears it could be the one to lead us into a brighter economy.

Posted in Uncategorized, News by Jason Waechter, Esq.

< Return to Post List

Name *

Email *

Spam Protection

All Categories

News

Legal

Uncategorized