Auto industry group warns Biden's fuel economy plan will cost billions, hurt sales

Auto industry group says Biden fuel economy plan not feasible, may cost $14B in fines
Plan raises standards through 2032, exceeds "maximum feasibility" per group
Fines would impact 1 in 2 light trucks, 1 in 3 cars from 2027-2032
Detroit automakers may face $10B in fines over that period
Group says plan will raise costs, hurt sales, not help environment
Concerns echo industry criticism of EPA electric vehicle proposal
Stellantis, GM paid $363M in fines in June for missing prior requirements

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Relevant topic timeline:

9/4/2023

BMW: Gasoline Car Ban Poses “Imminent Risk” To European Automakers

The EU's plan to ban new gasoline and diesel vehicles by 2035 poses a significant risk to European car manufacturers who may struggle to compete with Chinese EV manufacturers in a price war, according to BMW chairman Oliver Zipse.

9/7/2023

Trucker warns Biden's EPA regulations would be 'catastrophic' for the American food supply

The Biden administration's new emission standards for heavy-duty engines and vehicles are aimed at reducing air pollution, but truckers argue that the regulations will harm the supply chain and put the American food supply at risk.

10/2/2023

Detroit Automakers Face Billions in Penalties Under Proposed Fuel Economy Rules, Industry Group Says

The Detroit Three automakers are projected to pay $10.5 billion in federal penalties between 2027 and 2032 due to proposed fuel economy standards, which would disproportionately affect them compared to other automakers, potentially hindering their transition to electric vehicles.

10/17/2023

Tesla Calls for Stricter Fuel Economy Rules, Putting It at Odds with Other Automakers

Electric vehicle manufacturer Tesla has urged the Biden administration to implement stricter fuel economy standards through 2032, proposing increases of 6% annually for cars and 8% for trucks and SUVs to address climate change.

10/18/2023

Biden Fuel Economy Plan Faces Pushback Over Costs and Feasibility

The Biden administration is facing opposition to its proposed fuel economy standards, with critics arguing that it would increase consumer costs and burden U.S. businesses, leading to concerns about restricted consumer choice, high costs, and the dependence on electric vehicles.

10/18/2023

Ford Opposes Proposed US Fuel Economy Standards, Says Changes Would Cost Company Billions

Ford Motor Co has criticized President Joe Biden's administration's proposal to increase vehicle fuel economy standards through 2032, stating that it would cause significant economic hardship for the automaker.

10/18/2023

NHTSA Proposes Stricter Fuel Economy Standards, Drawing Criticism from Automakers and Support from Tesla

NHTSA's proposal to increase fuel economy requirements has been criticized by automakers for being too strict, while Tesla argues that they are not strict enough.