President Donald Trump has trashed federal standards from the Biden administration that he and the automakers say have driven up the price of new vehicles. [some emphasis, links added]
He said the new Corporate Average Fuel Economy (CAFE) change should save consumers about $1,000 on the price of a new vehicle.
The change aims to bolster domestic auto manufacturing in the Rust Belt after years of losing auto jobs to overseas plants.
Automakers have promised to invest billions of dollars in new auto manufacturing plants nationwide.
Big Three Automaker Stellantis, which owns Jeep, Chrysler, and Ram, has said it will invest $13 billion in Midwest auto factories in Indiana, Ohio, and Michigan.
Ford says it will invest $5 billion in Kentucky and Michigan factories.
Former President Joe Biden enacted the auto mileage standards to encourage consumers to buy electric vehicles.
Ford CEO Jim Farley welcomed the change.
The change follows Trump’s aim to make life more affordable for Americans.
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