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Further, the volume of cars sold in the U.S. was significantly tied to home equity lines of credit, with 24% of sales financed this way in 2006. [10] When the availability of these loans suddenly dried up in 2008 due to the subprime mortgage crisis, vehicle sales declined dramatically, from 17 million in 2006 to 10.6 million in 2009. [11]
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Small fuel-efficient cars from foreign automakers took a sharply higher share of the U.S. auto sales market. Under the Energy Policy and Conservation Act [42] the federal government initiated fuel efficiency standards (known as Corporate Average Fuel Economy, or CAFE) in 1975, effective as of 1978 for passenger cars, and as of 1979 for light ...
A Channel 4 documentary in January 2015 referred to the UK government moving to a CO 2 emission band system for road tax, which favoured diesel power, as the "great car con", with Barry Gardiner MP, former member of the Blair government, stating that the policy, which lowered CO 2 emissions yet increased NO x pollution, was a mistake.
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