35-mpg mileage target will save consumers $22 billion a year in gas costs
35-mpg mileage target will save consumers $22 billion a year in gas costs
mongabay.com
December 3, 2007
Divorce hurts the environment
The recently passed 35-miles per gallon target for the U.S. car fleet will save American consumers $22 billion a year in gasoline costs assuming an average price of $2.55 according to the Union of Concerned Scientists. However price premiums on fuel-efficient technologies could eat into these savings, reports an article in the Wall Street Journal.
“A Toyota Prius gas-electric hybrid beats the [35-mpg] standard, with a current city/highway mileage rating of 46 mpg. But that comes at a premium price. The Prius hybrid costs about $7,000 more than a 32-mpg Toyota Corolla, and about $3,600 more than a base Toyota Camry, which like the Prius is classified as a midsize car, according to Edmunds.com, an auto-research firm,” writes Mike Spector of the Wall Street Journal.
However, despite these costs, research analyst Global Insight predicts that hybrid engine technology will see its share jump from 2 percent of the U.S. light-vehicle market today to 25 percent by 2020, while diesel engines could reach 27 percent–up from less than 1 percent today.
“Emphasis on 0 to 60 performance, big engines and large horsepower numbers will decrease,” writes Spector. “The balance will tilt toward improving mileage… Powerful sports cars like Ford’s popular Mustang could become endangered.”
Spector, M. (2007). “How New MPG Standards Could Crimp Your Ride,” The Wall Street Journal. December 3, 2007; Page B1
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