August Light-Vehicle Sales Achieve Record Fuel-Efficiency Rating
Consumers went for miles-per-gallon in a big way in August, as U.S. light-vehicle sales achieved a record fuel-efficiency rating, the Ward’s Fuel-Economy Index shows.
The index, which measures the average miles-per-gallon per LV sold, hit a 23 mpg (10.2 L/100 km) average in the month, up 1% from the previous high set in July.
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The August rating marked an 8% gain from year-ago’s 21.2 mpg (11.1 L/100 km) average.
The index is calculated using Environmental Protection Agency fuel-economy ratings for individual models and engine-installation rates gathered by Ward’s to estimate the relative fuel efficiency of U.S. car and light-truck sales on a monthly basis.
The Ward’s FEI indicates the “Cash for Clunkers” program, which offered consumers as much as $4,500 to trade low-mileage older vehicles for more fuel-efficient models during July and August, boosted the average fuel economy of LVs sold in both months to record highs that tracked well above trend.
The industry-wide index rating rose about 2% during the first half of the year, reaching 22.1 in June from 21.7 in January, before taking a nearly 3% jump from June to July (22.7).
The subsequent increase in August pushed the industry’s rating to 23 for the first time since October 2007, the baseline for the index
August Light-Vehicle Sales Achieve Record Fuel-Efficiency Rating
The index, which measures the average miles-per-gallon per LV sold, hit a 23 mpg (10.2 L/100 km) average in the month, up 1% from the previous high set in July.
ADVERTISEMENT
The August rating marked an 8% gain from year-ago’s 21.2 mpg (11.1 L/100 km) average.
The index is calculated using Environmental Protection Agency fuel-economy ratings for individual models and engine-installation rates gathered by Ward’s to estimate the relative fuel efficiency of U.S. car and light-truck sales on a monthly basis.
The Ward’s FEI indicates the “Cash for Clunkers” program, which offered consumers as much as $4,500 to trade low-mileage older vehicles for more fuel-efficient models during July and August, boosted the average fuel economy of LVs sold in both months to record highs that tracked well above trend.
The industry-wide index rating rose about 2% during the first half of the year, reaching 22.1 in June from 21.7 in January, before taking a nearly 3% jump from June to July (22.7).
The subsequent increase in August pushed the industry’s rating to 23 for the first time since October 2007, the baseline for the index
August Light-Vehicle Sales Achieve Record Fuel-Efficiency Rating
