WardsAuto Fuel Economy Index: 2014 State of the Industry
Industry Reaches Record-High Fuel Economy in 2013
WardsAuto released the WardsAuto Fuel Economy Index: 2014 State of the Industry report , which examines average fuel economy of new light vehicles (LVs) sold in the U.S. as measured by the WardsAuto Fuel Economy Index (FEI), in comparison with prior periods back to Q4 2007, the Index Base Period (IBP) .
The report finds that the average fuel economy of new light vehicles rose to a record high of 24.7 MPG in 2013, reflecting continued consumer interest in fuel efficient vehicles across segments, as well as the growing availability of increasingly efficient vehicles.
The WardsAuto Fuel Economy Index (FEI) uses model-line LV sales, engine installation rates and EPA window-sticker fuel economy rankings to calculate relative average fuel economy across brands, segments and power types.
The WardsAuto FEI rating for the industry rose 2.8% in 2013, compared with a 4.4% year-to-year jump in 2012. The rate of improvement, while slower than the immediate prior year, was directly in line with the average annual rate of improvement over the index period beginning in Q4 2007, indicating a steady, less volatile rate of improvement over time.
The 2013 results also represent an 18.2% improvement over the index rating established in Q4 2007, the Index Base Period (IBP).
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