WASHINGTON - JULY 29: (L to R) John Mendel, Executive Vice President of Automotive Operations American Honda Motor Co., U.S. President Barack Obama, Doug Speck, President and CEO of Volvo Cars North... more 
WASHINGTON - JULY 29: (L to R) John Mendel, Executive Vice President of Automotive Operations American Honda Motor Co., U.S. President Barack Obama, Doug Speck, President and CEO of Volvo Cars North America, Environmental Protection Agency Administrator Lisa P. Jackson, Alan Mulally, President and CEO of Ford Motor Co., Bob King, President of United Auto Workers of America, and Dan Akerson, CEO of General Motors, at an event announcing new auto fuel economy standards at the Washington Convention Center July 29, 2011 in Washington, DC. Joined by auto industry leaders and others, Obama announced a program aimed to further improving fuel efficiency in cars and light-duty trucks to 54.5 miles per gallon by the 2025 model year and will begin be phased in starting in 2017. (Photo by Brendan Smialowski/Getty Images) less 
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Getty Images | Photo By Brendan Smialowski / Getty Images
Fri, Jul 29, 2011 2:42 PM EDT