“The focus is more on the running costs of the vehicle and its effect on the environment. The Green Revolution is well under way.” −IBISWorld U.S. Automotive Industry Report 2010
Over 15 million cars and light trucks are sold in the U.S. every year. There are 136 million passenger cars registered in the U.S. and 1 billion automobiles worldwide, subject to increasing pressure for emissions reductions and fuel efficiency mandates. The American automotive industry in Jan 2011 estimated that fuel efficiency regulations through 2016 will cost the industry more than $50 billion. The 2025 CAFÉ standards for vehicle fleets will be 54.5 mpg. The National Automobile Dealers Association estimates that the new standards will force automakers to raise the average price of a new vehicle by nearly 3,000 dollars per vehicle.
Make no mistake about it: The new regulations are hugely important. They will save consumers boatloads of money they would’ve spent on gas, drastically reduce American’s fuel consumption and carbon footprint and change the way cars are made. But, they present a major challenge to automakers, who must determine what technologies or combination of technologies will allow average fleet fuel economy to climb so high. They’ve got a lot of work to do. Our innovative technology provides the benefits that can help the automotive industry achieve the new CAFÉ standards.