NHTSA on SAFE Vehicles Rule
The National Highway Traffic Safety Administration (NHTSA) just issued a press release about Deputy Administrator Heidi King addressing Congress last month. Last year, the NHTSA, along with the U.S. Environmental Protection Agency (EPA), proposed the Safer Affordable Fuel Efficient (SAFE) Vehicles Rule to establish new fuel economy and greenhouse gas standards for model year 2021-2026 passenger cars and light trucks. This rule is aimed at making newer cars, which are safer and more fuel efficient, more affordable for American consumers.
Newer Vehicles Are Safer and More Fuel Efficient
American consumers are choosing to buy new vehicles less and less. We’re seeing them hold onto old vehicles for longer. Unfortunately, the older vehicles don’t have the safety upgrades and increased fuel economy that new cars provide. Deputy Administrator King gave her testimony to congress on exactly how the SAFE Vehicles Rule would address this issue to help make new vehicles more affordable for everyday Americans.
Affordability Crisis of New Car Market
Deputy Administrator King spoke about the affordability crisis of the new car market. According to recent data, new vehicle prices have risen 29 percent over the past 10 years, and the average price of a new vehicle is more than $37,000. Unfortunately, wages aren’t going up at the same rate. In fact, median family income has only gone up about 6 percent over the past decade. Additionally, automakers are also struggling to keep up with the latest standards. Reportedly, all but three of the 13 major automakers failed to meet their performance targets in 2017.
Moving Forward With the Safe Vehicles Rule
Officials with the NHTSA don’t want consumers discouraged from buying newer, safer, more fuel-efficient cars due to increased prices. At this time, the NHTSA and the EPA are reviewing comments about the SAFE Vehicles Rule and making sure they have the latest engineering, data, science and economic information in preparation for the finalization of the rule.
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