GM, Stellantis Pay Record Fines
Carmakers fell short of federal fuel-economy standards.
The fines were the biggest any carmaker has paid in the Corporate Average Fuel Economy program.
IMAGE: Pexels/Ekaterina Belinskaya
General Motors and Stellantis have paid a combined $364 million for failing to meet U.S. fuel-economy standards for some earlier model years.
The penalties, first reported by Reuters news agency, were the biggest any carmaker has paid in the Corporate Average Fuel Economy program based on records stretching back to 1985, the Detroit News said.
GM paid $128.2 million for missed targets on 2016 and 2017 models, the first time it’s paid a fine under the program, according to news reports, and Stellantis paid $235.6 on 2018 and 2019 models.
Stellantis was formed in 2021 by the merger of Fiat Chrysler and French PSA group. Its brands include Jeep, Chrysler and Dodge. GM makes Chevrolet, Buick, GMC, Cadillac and others.
DIG DEEPER: Biden Administration Defers Credit Awards for EVs
Originally posted on Auto Dealer Today
More Industry
Kia Closes Out Summer With a Bang
Its U.S. subsidiary broke multiple records in August, in part due to a surge of demand for hybrids models.
Read More →
Indiana Dealership Changes Hands
A 30-year-old Ford dealership in Indiana has a new owner and will soon be undergoing renovations to meet manufacturer requirements.
Read More →
Texas Dealership No Longer in the Family
The Ford store, a longtime cornerstone of the Houston market, is now part of one of the fastest-growing U.S. auto groups.
Read More →
Genesis Grows California Presence
The Cardinale Automotive Group opened its third Genesis rooftop in the Golden State, Genesis of San Bruno, a stand-alone dealership serving the San Francisco Bay Area.
Read More →
August Auto Sales a Mixed Bag
An early forecast shows strong business despite consumer hurdles, and hybrids are a big piece of their affordability coping strategy.
Read More →
EV Market Humming Along
July sales show steady growth as the segment stabilizes from last year’s artificial surge following pullback of federal support.
Read More →
Auto Loan Delinquency Rates Stabilize
Auto loans are a main driver of nonmortgage consumer debt, but delinquency rates stabilized in the second quarter across all credit risk tiers.
Read More →
EV Sales Recover in Q2
The EV sales roller coaster continues as numbers show improvement, but industry experts predict a year-over-year third-quarter decline and fourth-quarter jump.
Read More →
The Cheapest Hybrids to Fuel
The powertrain is increasing in popularity, in no small part due to its fuel economy. A new report lists the most efficient hybrids on the market.
Read More →
Hybrids and SUVs Gaining Ground
The most recent Kelley Blue Book Brand Watch found that only two nonluxury brands increased in shopper consideration, buoyed by their hybrid and SUV offerings.
Read More →