The Obama Admin. claims the stricter regulations will add $1,300 to consumers’ cost for a typical car or truck by 2016 and that those costs mostly will be offset by savings at the fuel pump over several years, but independent engineering firm Ricardo Inc. says the technology required to meet the new standards will add $5,000 to $12,000 to the price, depending on the vehicle’s size and use.
Ricardo is one of the auto industry’s top technology-consulting companies and provided technical support to the National Highway Traffic Safety Admin. on the final 2009 light duty vehicle corporate average fuel economy rulemaking process.
Sandy Stojkovski, director-Total Vehicle Fuel Economy Practice, Ricardo Inc. presented a paper on the price impact of fuel-saving technologies at the recent SAE International World Congress in April. She says she does not know how the White House arrived at its conclusions.
By the way, I think I know how President Obama reached the $1300 number: He made it up.