WASHINGTON (July 27, 2011)—The White House said it hopes to announce as early as Friday that it has reached agreement with most auto makers on a plan to raise corporate average fuel economy targets to 54.5 mpg by 2025, manufacturers' representatives said today.
While no auto makers have signed on to the Obama administration plan yet, most—including Ford Motor Co., Toyota Motor Co., General Motors Co. and Chrysler Group L.L.C.—are generally supportive and intend to do so, the industry officials said.
Each manufacturer is trying to iron out technical issues with the White House before endorsing the proposal.
The industry will not give across-the-board support for the administration's plan, auto makers said.
The leading German auto makers, Volkswagen, BMW and Daimler, may withhold endorsement of the agreement, the industry representatives said. Failure to comply with the mileage plan could result in millions of dollars in fines for each company.