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Automotive News Archive24-May-2006New Fuel Economy Standards Favor U.S. Automakers The Bush administration plans to raise the average fuel-economy standard for light trucks and sport utility vehicles to 24 miles per gallon by 2011. The new rules provide a big break for General Motors, Ford Motor Co. and the Chrysler group, which rely on larger trucks for sales and profits. Exxon Mobil Reports 14% Increase in Earnings Exxon Mobil reported quarterly earnings rose to $8.4 billion, up from a year earlier but down from the fourth-quarter's record level, on revenue of $88.98 billion. Along with other oil companies, it faces scrutiny as it thrives on high energy prices and robust global demand. Hybrid Sales Slow, Automakers Worried Slowing sales of several gasoline-electric hybrid vehicles have automakers worried. Honda is on the verge of cutting production of its hybrid Accord and perhaps discontinuing the ground breaking Insight, the first hybrid sold in the U.S. Gasoline Prices Remain High, Oil Above $70 a Barrel With international oil prices languishing above $70 a barrel, the news at gasoline pumps throughout the country is still horrible. J.D. Power Gets Tough on Gadgets J.D. Power plans to get tough with techno-gadgets and gizmos filling high-tech cars and trucks these days when it does its next quality study, a tool used by millions of consumers when shopping for new vehicles. Survey: Consumers Want More Auto Safety Technology More than eight out of 10 U.S. car owners want some form of in-vehicle technologies to improve safety and security and they are willing to pay for it, a survey finds. Big Three Look for Help on Capitol Hill U.S. automakers were on Capitol Hill today looking for help to develop alternatives of gasoline powered vehicles. FTC Finds No Widespread Gas Price Gouging The Federal Trade Commission has reported only 15 examples of gasoline price gouging after Hurricane Katrina and the agency says there is no widespread effort by the oil industry to illegally manipulate prices, a finding Public Citizen said "defied belief."
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