NADA Chairman Tom Castriota attended an event in the Oval Office on Wednesday at which President Donald Trump announced a NHTSA proposal to reform the Corporate Average Fuel Economy (CAFE) standards.
Castriota joined Department of Transportation Secretary Sean Duffy along with Senators Bernie Moreno (R-Ohio) and Ted Cruz (R-Texas), among other members of Congress at the event. Also in attendance were Ford CEO Jim Farley and Stellantis CEO Antonio Filosa.
"The actions that you've done as the president are definitely going to save our customers money," Castriota said to Trump. "You made your promise to let the consumer buy what they want, and you delivered on that."
The proposed rule is an overhaul of CAFE standards starting with model year 2022 vehicles. The new standards aim to balance fuel economy improvements with vehicle affordability.
For years, NADA and America's franchised auto dealers have championed a sensible and effective approach to fuel economy regulations. The proposed changes would grant manufacturers greater flexibility in meeting these standards through a diverse array of technologies, enabling them to produce vehicles that align with a broad spectrum of consumer lifestyles, budgets, and fuel preferences.
The proposed rule will now undergo a review and finalization process that could take several months, but discussions surrounding affordability, innovation, and consumer choice will continue.
