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U.S. underestimates cost of fuel and CO2 goals, automakers say

Regulators have underestimated the cost and difficulty of achieving their vehicle fuel-economy and greenhouse-gas targets for 2025, an automaker group said.

By John Lippert | Updated on June 28, 2016

(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.

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