WASHINGTON (Bloomberg) -- President Barack Obama released a final version of a rule forcing automakers to more than double average fuel economy by 2025 that includes changes benefiting Honda Motor Co. and other makers of alternative-fuel vehicles.
"By the middle of the next decade, our cars will get nearly 55 miles per gallon, almost double what they get today," Obama said today in an e-mailed statement. "It'll strengthen our nation's energy security, it's good for middle class families and it will help create an economy built to last."
Corporate average fuel economy, or CAFE, rules released today and that took effect earlier this year are supposed to reduce U.S. oil consumption by 12 billion barrels and lead to fuel savings of more than $8,000 by 2025 over the life of a vehicle, the White House said.
Boosting average fuel economy is part of Obama's plan to reduce oil imports and use. Promoting purchases of more fuel-efficient vehicles can help reduce the use of fossil fuels.