A day after U.S. President Barack Obama confirmed higher fuel economy standards by 2025, his Republican opponent in the presidential race spoke against excessive regulation in the auto industry – even though automakers representing 90% of American sales have previously agreed to these new standards.
Rather than forcing them to develop more fuel-efficient vehicles, Mitt Romney said that he prefers market-based solutions such as tax incentives.
He also believes that the government, which still has a 26.5% stake in General Motors, shouldn't be owning the manufacturer's shares at all. Should he be elected to the White House on November 6th, GM would have to find a new major shareholder.
Romney didn't stop there, labelling electric vehicles as "a technology that people aren't interested in." He pointed out that the Chevrolet Volt has suffered from weak sales so far in the U.S.
Source: CNN Money
Rather than forcing them to develop more fuel-efficient vehicles, Mitt Romney said that he prefers market-based solutions such as tax incentives.
He also believes that the government, which still has a 26.5% stake in General Motors, shouldn't be owning the manufacturer's shares at all. Should he be elected to the White House on November 6th, GM would have to find a new major shareholder.
Romney didn't stop there, labelling electric vehicles as "a technology that people aren't interested in." He pointed out that the Chevrolet Volt has suffered from weak sales so far in the U.S.
Source: CNN Money