Automakers Beat Greenhouse Gas Emissions Standards for Third Straight Year; Fuel Economy Steady at Highest Level Ever Recorded
The U.S. Environmental Protection Agency (EPA) recently announced that manufacturers have surpassed the more stringent 2014 standards for greenhouse gas (GHG) emissions, while model year 2014 fuel economy remains steady at the highest level ever recorded. The findings were included in two reports: the annual report on fuel economy trends and a report on the automotive industry’s progress toward meeting greenhouse gas (GHG) emissions standards for cars and light trucks.
The EPA estimates that, through 2014, the GHG emissions standards have resulted in reducing cumulative emissions by roughly 60 million metric tons of CO2, roughly the amount of GHGs emitted from electricity use from over 8 million homes in one year. These standards will ultimately save American families who purchase a new model year 2025 vehicle more than $8,000 in lifetime fuel costs. The program in total will save Americans $1.7 trillion in fuel costs, will reduce U.S. fuel use by 12 billion barrels of oil, and reduce greenhouse gas emissions by 6 billion metric tons.