Bob Lutz: Gov't Regs Are Odds with Consumer Desires
For the automotive industry, 2008 was a year like no other in recent memory.
Auto manufacturers scrambled to meet demand as consumers abandoned large SUVs and trucks, Detroit's stronghold, for small cars as fuel prices reached $4 a gallon over the summer.
Congress responded with new fuel-economy standards that demanded automakers meet a 35-mpg standard by 2020. Automakers, in turn, changed product plans and began investing in expensive new technology to meet those standards.
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Official company press release.
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