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GM, Stellantis, Ford Shares Mixed After US EPA Finalizes Pollution Rules for Cars
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GM, Stellantis, Ford Shares Mixed After US EPA Finalizes Pollution Rules for Cars
Mar 21, 2024 7:44 AM

10:29 AM EDT, 03/21/2024 (MT Newswires) -- General Motors ( GM ) , Stellantis ( STLA ) and Ford Motor ( F ) shares were mixed in recent trading Thursday, a day after the US Environmental Protection Agency said it finalized new pollution guidelines for cars for model years 2027 through 2032.

General Motors ( GM ) and Stellantis ( STLA ) shares were 0.6% and 0.1% higher, respectively, while Ford shares were down 0.5% in recent trading.

"We appreciate EPA's efforts and collaboration in strengthening greenhouse gas emissions standards in ways that reflect the realities of the EV transition," Ford said in a statement. "The agency's final rule is ambitious and challenging, and achieving its requirements will take close public-private cooperation."

Stellantis ( STLA ) said in a statement that, "while the later-year targets remain aggressive, the final rule improves on the [EPA's] proposal by better reflecting the expected trajectory of market demand and enabling infrastructure. It is critical that forthcoming rules align with this proposal so that US manufacturers can effectively comply with a single set of rules."

The new pollution standards for passenger cars, light-duty trucks, and medium-duty vehicles are expected to accelerate the shift to clean vehicles, slash over 7.2 billion tons of carbon emissions, and provide almost $100 billion of net benefits per year to the country, EPA said.

"Once fully phased in, the standards will save the average American driver an estimated $6,000 in reduced fuel and maintenance over the life of a vehicle," EPA said.

The United Automobile Workers said the EPA's "more feasible emissions rule...protects workers building ICE vehicles, while providing a path forward for automakers to implement the full range of automotive technologies to reduce emissions."

Price: 12.87, Change: -0.03, Percent Change: -0.26

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