INDIANAPOLIS (WISH) – The United States says it won’t meet the fuel economy standards by 2025, and Netflix had a terrible quarter and it’s blaming a price hike.
The U.S. government said the fuel economy of the nation’s fleet of cars and trucks lately won’t meet its targets in 2025 because low gas prices have changed the types of vehicles people are buying.
Under standards set in 2012, automakers’ fleets were expected to get an average of 54.5 miles per gallon by 2025.
But now, the government said that’s more likely to be between 50 miles per gallon and 52.6 miles per gallon.
In other business headlines, Netflix shares are plummeting after it added far fewer subscribers than expected.
The culprit was U.S. customer distaste for higher monthly prices, which led to a net addition of only 160,000 subscribers for the quarter, bringing Netflix’s U.S. subscriber base to $47 million.
Netflix said it needed to raise prices to pay for new shows.
For more business headlines from Jane King at the Nasdaq, watch Daybreak Monday through Friday.