The government has finalized a list of new environmental regulations of that it is calling curbing gas-powered vehicle tailpipe emissions as part of its broader efforts to reduce greenhouse gas emissions and combat global warming. Sounds wonderful, but how does this impact you, car prices and the economy?
It may surprise you.
The Environmental Protection Agency’s finalized rule is a watered-down version compared to the original proposal that would eliminate gas powered cars by 2030. While the EPA will still seek for EVs to make up 67% of new car sales by 2032, it will allow automakers to do so using other mixes of vehicles, including plug-in hybrids, strong hybrids, and improved internal combustion engine vehicles, in addition to pure battery electric vehicles.
You may think this is a win, but actually it isn’t because what they’re going to do is put additional regulations on three-quarter ton and 1 ton trucks. There’s going to be an impact there when it comes to literally everything you do and everything you buy.
Beyond that the push continues for electric vehicles which take one-third the workers to manufacture. Which means the United Auto Workers just negotiated a wonderful agreement for their employees — except one-third or more of them will be no longer needed to build cars.
So it’s going to hurt the unions and it’s going to hurt the economy and it’s going to hurt consumers and it’s going to hurt you.
This also means that car prices are going to get more expensive as more regulations are in place. Remember, lawmakers passed an infrastructure bill from 2021, section 24–220 — the kill switch law which must be installed in every new vehicle, which means vehicles are going to get more expensive because somebody’s going to pay for that technology.
Mandating vehicles that get better fuel economy also means they need to be lighter, no spare tires, more standard safety features, and more government regulations. All of this means you’re going to pay a lot more for your vehicles — and that doesn’t mean just electric cars — that means all vehicles are going to get way more expensive.
As a reminder, car manufacturers takes a loss between $6,000 and $40,000 per electric vehicle. How are they going to make up for that loss? Well, they’re going to sell your data, which we cover on a different video, but they’re also going to add subscription fees and increase the cost of the vehicle to you.
Senate Republicans are introducing a disapproval resolution to overturn the Biden administration’s standards for reducing tailpipe emissions for new vehicles. Senators Pete Ricketts of Nebraska and Dan Sullivan of Alaska, both members of the Environment and Public Works Committee, are introducing two separate disapproval resolutions that would overturn the finalized rule, which would create further restrictions on new vehicle emissions. The pair called the standards “delusional,” and deemed them an electric vehicle mandate that would make it harder for consumers to buy and maintain cars.
This is the Biden administration’s attempt to get rid of the internal-combustion engines without congressional authority. The senators said in a statement. “Congress must take action to keep vehicle costs down, protect our free-market economy, and defend consumer choice. We can’t allow Biden to make us more reliant on foreign adversaries like China who control the critical minerals needed for electric vehicles.”
The pair reasoned that the push for EVs would not work in their home states – where extreme cold, isolated communities, and long-distance drives would make for a hazardous combination for the vehicles.
The administration has faced pushback from auto manufacturers as it attempts to deliver on its EV targets, with manufacturing trade groups arguing that the administration’s EV sales targets are not achievable in the intended timeframe, and risked limiting consumer choice while triggering price hikes for all types of vehicles. To prove this, just drive by any dealer lot and you’ll see a whole lineup of electric cars that aren’t being sold.
The new rule regulates tailpipe emissions for light and medium-duty vehicles, while another rule regulating heavy-duty vehicles will be introduced at a later time. This will impact work trucks and increase the costs to companies and independent small businesses.
Ricketts introduced a disapproval resolution for this week, and Sullivan will be introducing the resolution dealing with heavy-duty vehicles once the rule is finalized. Senator Joe Manchin said then that he would support an effort to overturn the rule, so be on the lookout for how he votes when this comes to the floor.
Only 8% of cars are electric. In eight years, the new regulation would mandate that 67% of cars to be electric. But at what cost? This takes away your choices. Consumers deserve to decide what type of vehicle works best for them. The Federal government is making decisions for you for its own agenda — not for what you want.
This regulation is bad for American consumers — and good for China. This will negatively impact American jobs in the auto industry and all of the companies that support it. And to you as an individual, car prices are going to get more expensive, which also means insurance rates are going to increase with it. We’ll be watching to see what moves happen next. Stay tuned.
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Lauren Fix, The Car Coach is a nationally recognized automotive expert, media guest, journalist, author, keynote speaker and television host. A trusted car expert, Lauren provides an insider’s perspective on a wide range of automotive topics and safety issues for both the auto industry and consumers. Her analysis is honest and straightforward.
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