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New proposed rule could hurt consumer affordability

Posted On Thu, January 26, 2012

A new rule from the Environmental Protection Agency and the National Highway Traffic Safety Administration would make many consumers not be able to afford vehicles, according to the National Automobile Dealers Association.

The fuel economy guidelines that are planned to be enacted by 2025 could make millions of Americans priced out of new vehicle options. The estimate was that new vehicles would not be able to be sold for less than $15,000 by that time. The aim by the government is to have fuel economy increased to a fleet average of 54.5 miles-per-gallon.

"America's auto dealers support continuous improvements in fuel economy," McConnell added. "Instead of fighting the consumer, NADA urges the administration to act in a manner that will leverage consumer demand, thereby maximizing fleet turnover and ensuring maximum feasible fuel economy increases."

If a consumer is worried about vehicle affordability, there are other ways to save money. One of the best methods is to price and compare auto insurance rates. This may help save a large sum of money in the long run.

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