Due to the latest fuel economy requirements, new cars could begin to cost more for the consumer in coming years, which could translate to higher price tags on used models as well.<\/p>\n
Last year, the government set the next deadline for Corporate Average Fuel Economy Standards, requiring all automakers to have a fleetwide fuel economy of 54.5 miles per gallon by 2025. In order to meet CAFE standards, car companies will need to find ways to make their vehicles more fuel efficient, which may lead many to explore hybrid, electric and diesel technologies. The other option is to improve the design of gas-powered models, which can include reducing a vehicle’s weight as well as making its engine run more efficiently. Implementing these changes will cost the manufacturers more money, and the expense will inevitably be passed on to the consumer. An engineer from the Environmental Protection Agency told USA Today that by 2025, the average cost of a new car will be about $2,600 more than new vehicles in 2011.<\/p>\n
For the most part, experts believe fleets will still consist of mostly gasoline-powered models, as it is easier to add turbochargers, direct-injection and continuously variable transmissions to combustion engines than to develop alternative technologies. While it is within reach to meet these high standards and reduce dependency on gasoline by 2025, this does not mean the average vehicle will have a 54.5 mpg fuel economy. Rather, the news source indicates midsize sedans would likely have an average 40-mpg fuel economy.<\/p>\n
So what does this mean for those looking to buy used cars? Drivers will have more access to used fuel-efficient models, but the increased costs for new vehicles will likely lead to higher resale values. This doesn’t mean there won’t still be affordable options, but car shoppers may have to do more research to find the best deal.<\/p>\n