The Biden administration proposal to hike fuel economy standards through 2032 is not feasible and could cost automakers a total of more than $14 billion in fines, an automotive group said Friday.The Alliance for Automotive Innovation, which represents General Motors (VOWG_p.DE), Toyota Motor (7203.T), Volkswagen (VOWG_p.DE), Hyundai (005380.KS) and others, said the National Highway Traffic Safety Administration Corporate Average Fuel Economy proposal "exceeds maximum feasibility" and that the agency projects "manufacturers will pay over $14 billion in non-compliance penalties between 2027 and 2032".
The fines would impact one in every two light trucks and one in every three passenger cars in 2027-2032, the group added.
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