President Obama said the agreement with automakers on a 54.5 mile-per-gallon national average fuel economy standard by 2025 is the "single most important step" to cut U.S. dependence on foreign oil. Under the new standard the average motorist can fill up every two weeks, instead of weekly. Automakers must take major steps to get buyers into smaller vehicles, cut fuel use with turbochargers and hybrids, slash vehicle weight and look at other ways to build more aerodynamic cars.
More car buyers shifted to used models in July, according to CNW's Art Spinella. A total of 4.5 million used cars and trucks were sold in July, a jump of 13.5%. Last month began strong for new car sales as well, but an uncertain economy and job prospects are leading many in-market car buyers to save a bit by buying used.
General Motors' OnStar unit has unveiled a pilot program that will allow parents to track the real-time location of their teenagers when they are driving. Vehicles can be tracked by logging on to a GM website to view a map with the vehicle's exact location at any time or by getting text messages or email alerts. About 10,000 active U.S. OnStar subscribers will be invited to take part in the pilot program with the focus on GM owners who are parents with teen drivers. Other pilot programs are also under consideration.
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Ford Motor Co. wholesaled 736,000 units in North America during the second quarter, up from 77,000 units a year ago. Ford appreciated the benefits to its operating profit, and auctions were happy to see the increase during a period when wholesale volumes have been down for some time.