President Trump Will Roll Back Fuel Efficiency Standards For Vehicles

WASHINGTON - President Donald Trump on December 3rd, said his administration would "reset" fuel efficiency standards for passenger cars in an effort to put a lid on rising auto prices, as the administration battles inflation and an affordability crisis.

    The previous rules, which sought to lower carbon emissions, “put tremendous upward pressure on car prices,” Trump said in the Oval Office.

     The average new vehicle price in October surged to an all-time high, above $50,000 for the first time ever, according to Kelley Blue Book. However, KBB said that "despite higher prices, retail sales continue to maintain a healthy pace."

    The Department of Transportation says the proposal will "save the American people $109 billion" or $1,000 on the average cost of a new vehicle, but it's unclear how fast prices could fall. The updated standards still must go through a formal rulemaking process before being finalized, likely in 2026.