Since President Donald Trump’s administration took office, the auto industry has been clamoring to have the strict fuel economy standards set by his predecessor reversed. On Monday, that process began with an announcement by Trump’s Environmental Protection Agency. But the automakers themselves could wind up seriously hindered if the standards are drastically weakened.
Consider the current environment of the auto market: sales, most observers agree, plateaued in 2017. Car buyers are already borrowing record amounts to purchase a car and average to loan terms exceeding 70 months. Many of those sales are driven by big SUVs, crossovers and trucks as gas has stayed cheap—for now.
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