Tuesday, July 20, 2010

2010 Market Trends

Fuel efficiency is in the spotlight as the U.S. auto industry continues its struggle out of the tailspin that began in 2008. New vehicles sales barely surpassed 10 million units in the 2009 calendar year, down over 20 percent from 2008 and 33 percent from 2007 sales. As sales inch back up, consumers’ interest in miles per gallon remains strong. In early 2010, fuel prices are once again well past the $2.50-per-gallon mark, and there is a widespread expectation that economic recovery will only push prices higher.
Reinforcing the trend is the Obama Administration’s announcement of stricter fuel economy and greenhouse gas emission standards, effective beginning in model year 2012. The proposed standards call for an average fleet-wide fuel economy of 34.1 miles per gallon by 2016, a 36 percent increase from 2009 standards. Manufacturers are working on a variety of new technologies to ensure they will be able to comply.

Source:Greencars

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