(Bloomberg) -- U.S. regulators have underestimated the cost and difficulty of achieving their vehicle fuel-economy and greenhouse-gas targets for 2025 and are giving California too much power to shape the country’s policies on those issues, an automaker group said.
Even with the current government estimate of $1,800 a vehicle in added costs, “the payback period for alternative technologies extends beyond the timeframe most consumers consider; it is likely to remain that way,” the Alliance of Automobile Manufacturers said in a report posted on its website Monday. Members of the Washington-based lobbying group include General Motors Co., Ford Motor Co., Fiat Chrysler Automobiles NV, Toyota Motor Corp. and Volkswagen AG.
The alliance is seeking to influence the upcoming midterm evaluation by regulators of the 2011 plan by President Barack Obama’s administration to boost the fuel economy of cars and light trucks by 54% to a projected 54.5 miles (87.7 kilometers) per gallon by 2025 and cut tailpipe carbon dioxide emissions by 35%. The review is meant to consider whether changes are needed in the plan based on actual performance so far.
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