President Barak Obama on Friday (7/29) announced an agreement with 12 major automakers to increase fuel economy to 54.5 miles per gallon for cars and light-duty trucks by model year 2025, according to news releases issued by both the U.S. Department of Transportation and Environmental Protection Agency.
General Motors, Ford, Chrysler, Toyota, Nissan, Honda, Hyundai, BMW, Volvo, Mazda, Mitsubishi and Jaguar—which together account for more than 90% of all vehicles sold in the U.S.—worked with the administration and the state of California on the new standards.