The President has outlined his new fuel efficiency standards and emissions standards and it’s gunna cost you. $1300 more per car to start. But no worries … the Pres says you will be able to pay it off in no time.
No … you are right. None of this works if gas prices go down. Then it will take longer to pay off. But as the other post points out, unless they go up no one will buy them, in which case … the technology will cost you more … as we pointed out here. So the pay off depends on gas price rising. Good bet? Not sure. But either way … you will pay more for one of these little cars … likely more than what the President estimates.
But have no fear … according to Reuters and the AP … you will be helping to save the planet. Here are a couple headlines:
Here’s the AP, click to enlarge.
And here’s Reuters.
$1300 … seems like a small price to save the world … plus … the President says you will pay it all off in no time.
Update: I am sure you are wondering about why auto companies which have fought these higher standards because of the higher costs, would suddenly jump on board … even if there’s no consumer demand. Is it Obama’s winning personality? Perhaps it’s the President’s power of persuasion? Nope … it’s cause he owns em. Politics, Chicago style>