The Global Fuel Economy Initiative (GFEI) report released via the International Energy Agency this week warned that the average fuel economy improvement rate for advanced countries slowed to only 0.2% per year between 2015 and 2017 — and "more than 20 countries experiencing a reversal in the evolution of their fuel economy."
Why it matters: It's nowhere near the GFEI target of 3.7% annual improvements in order to help control CO2 emissions.
The big picture: Worldwide, the average fuel economy improvement rate slowed to 1.4% per year between 2015 and 2017, although the gains in emerging economies were higher. IEA chief Fatih Birol, in a statement alongside the report, called the overall slowdown "cause for alarm."
- "Improving vehicle fuel efficiency saves money, cuts carbon emissions while also reducing harmful air pollution and boosting energy security," he said.
- There are several forces driving the trends, including the increase in consumers' appetite for SUVs and pickups.
Go deeper: IEA has a cool interactive tool to track vehicle sales, efficiency and other data across 18 major auto markets including that in the U.S.
