The news has been coming out recently about how much consumers are looking to getting more fuel efficient cars in an effort to deal with the rise in gas prices. Many hybrid classes have benefited not only from the resurgence of the auto industry such as the Ford Focus. It’s clear that the pump is what is really on people’s minds these days when looking to invest in buying a car.
A new report from Citi Investment Research and Analysis, along with Ceres, is predicting that the new fuel standards being enforced by federal regulations is going to be a massive benefit for the auto industry. The new 54.5 MPG standard is expected to increase the industry as a whole by 5.3 percent into 2020, bringing it up to $4.76 billion. The major auto makers (Ford, Chrysler, and General Motors) are looking to see improvements of around 4 percent.
Carol Lee Rawn is the transportation director of Ceres, and she sees that this new standard of fuel efficiency in cars is definitely going to help the industry. She says that, “Automakers who invest in more efficient vehicles are investing wisely. Given the volatility of gas prices – and the likelihood that they’ll head through the roof again – it’s clear that customers want better fuel economy and delivering it means a better bottom line for the industry.”
Regardless of your credit, Approved Loan Store is wanting to make sure you get the fuel efficient car you want. Fill out an application today and see how we can help you. Be sure to follow us on Twitter, and like us on Facebook, to see all the latest trends in the industry. If you’re still not convinced, check out our Youtube page to see our satisfied customers.