New fuel standards for trucks make waves at Illinois-based Navistar
The White House has announced new fuel standards for trucks and buses. They'll require trucks built between 2014 and 2018 to drastically reduce fuel consumption.
The new standards mean big changes for companies like Illinois-based truck manufacturer Navistar International Corporation, said Basili Alukos, an equity analyst with Morningstar.
According to Alukos, trucks have mostly removed their dangerous emissions. Now, 18-wheelers at Navistar will get their turn at better gas mileage.
"They typically do about a 150,000 miles a year and they get roughly six miles a gallon," said Alukos. "So I mean, it's ridiculous. If your car got that it'd basically make you broke."
Certain big-rigs will be required to cut fuel consumption and greenhouse gas emissions by as much as 20 percent by 2018. According to the U.S. Environmental Protection Agency and the Department of Transporation, this would save four gallons of fuel for every 100 miles traveled.
Navistar has not yet announced what changes they'll be making to their new trucks.