The new standards are expected to make cars more expensive, adding an estimated $434 per vehicle in the 2012 model year and $926 per vehicle by 2016. The Obama administration, however, is counting on the measure to save consumers more than $3,000 over the life of the vehicle through better gas mileage.
With gas prices on the rise, automakers have been working on developing more fuel-efficient technologies, including hybrids and electric vehicles. But in this volatile economy, it's unclear what kind of impact this more stringent government regulation will have on their bottom lines and/or their ability to hire workers.
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