Today, 13 major automakers agreed to participate in the next phase of the Obama Administration’s national vehicle program, which sets a goal of increasing fuel economy to 54.5 miles per gallon for cars and light-duty trucks by model year 2025.
Ford, GM, Chrysler, BMW, Honda, Hyundai, Jaguar/Land Rover, Kia, Mazda, Mitsubishi, Nissan, Toyota and Volvo all signed on to the President’s pact, as well as United Auto Workers and the State of California. The participating automakers are responsible for 90 percent of all vehicles sold in the United States.
“This agreement on fuel standards represents the single most important step we’ve ever taken as a nation to reduce our dependence on foreign oil,” said President Obama. “Most of the companies here today were part of an agreement we reached two years ago to raise the fuel efficiency of their cars over the next five years. We’ve set an aggressive target and the companies are stepping up to the plate. By 2025, the average fuel economy of their vehicles will nearly double to almost 55 miles per gallon.”
The White House says between now and 2025, this agreement will save American families $1.7 trillion in fuel costs, and result in an average fuel savings of over $8,000 per vehicle. If automakers are successful in meeting the plan’s projected goals, it will also save more than 6 billion metric tons of greenhouse gas — more than the amount of carbon dioxide emitted by the United States last year. Additionally, these programs will dramatically reduce America’s oil consumption, saving a total of 12 billion barrels of oil, and by 2025, reducing oil consumption by 2.2 million barrels a day — as much as half of the oil imported from OPEC every day.
The oil savings, consumer and environmental benefits of this comprehensive program are detailed in a new report entitled Driving Efficiency: Cutting Costs for Families at the Pump and Slashing Dependence on Oil, which the Administration released today.
Care2 would like to say a special thank you to the 27,300 members that helped make this agreement a reality by signing the Pew Environment Group’s petition to tell President Obama to adopt strong fuel efficiency standards. Good work! If you haven’t signed it yet, there’s still time to show your support!
Image Credit: Flickr - Robert Couse-Baker
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