Is the car industry going green?
Where Do You Live?
President Obama’s plans to reduce carbon emissions by increasing fuel efficiency standards in America have sparked a heated debate. On the one hand reduced fuel consumption means less dangerous greenhouse gas emissions, and will help create a cleaner environment. But on the other it could contribute to further problems for the US car industry, which is already struggling with the recession.
The new laws allowing each state to impose its own standards for fuel efficiency will ensure limited carbon emissions and will be a long overdue first step by the US towards dealing with global warming. The issue was largely ignored by the Bush administration, despite the fact that even fellow republicans like California’s governor Arnold Schwarzenegger have been campaigning for these changes for a long time.
In time, all the manufacturers including those we have been told to aspire to - prestige brands like Audi, Mercedes and BMW - will be forced to move towards designing greener cars and new fuel technologies.One thing’s for sure, even with government money these new cars will not come cheap. So perhaps the more expensive brands like Audi may even have to reconsider their marketing strategies and think about introducing other options for buyers such as offering an Audi lease agreement as an alternative to buying outright.
Cash-strapped potential buyers will also be faced with a difficult choice. The current market for cars means it’s easier than ever to find a bargain, with the slump in sales leading to marked reductions in the cost of both new and used vehicles. However, if the UK government were to follow in Obama’s footsteps drivers who choose the wrong car now could be faced with high taxes for carbon emissions in the future.
Perhaps the answer is not to buy that new Merc, or Beamer or Roller (if those are your dream cars), but instead enter a Mercedes lease agreement with the option of renewing and upgrading your vehicle in the future. You’d get the best of both worlds – your dream car now at a fixed and predictable monthly price that’s easier than taking out a loan (that’s if you could find an institution willing to lend you anything!) and also the possibility of being one of the first to benefit from the new fuel saving technologies that could save you money if carbon taxes are introduced in the future!
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