The net benefit is put at just $24 billion or, using households as a proxy for families, a princely $181 per household spread over five years. The $925 figure, meanwhile, equates to less than 2% of today’s average vehicle price. Even assuming it were actually realized, at $3 per gallon it would be eaten up by extra gasoline costs within three years.
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In the real world, relaxing mileage standards, along with the earlier removal of penalties for missing them, will spur Detroit to sell more of the higher margin, lower fuel-economy, trucks and SUVs at the core of its business model, as opposed to shifting production toward smaller, cheaper models.
The fuel economy standard being repealed is one that’s incredibly beneficial to consumers — it both encourages the production of less expensive vehicles, and saves on fuel costs.
This is the end of US car makers besides Tesla. Very few countries like to buy those massive American trucks and SUVs and without EVs selling normal cars is going to be difficult in many large markets, such as China and Europe. GM has basically left Europe already and Ford is firing workers like crazy. Stellantis is very likely to follow, but they have strong European brands and probably manage a bit longer.