Romney Would Sell GM Stock, Look For CAFE Alternatives

The Detroit News interviewed presidential hopeful Mitt Romney on Tuesday, and the Republican candidate-to-be shared his thoughts on government ownership of GM stock and the future of CAFE.

Romney told the paper that he would like to see government-held GM stock sold as quickly as possible

“There is no reason for the government to continue to hold (its GM stake),” Romney, a Detroit native and son of an auto executive, said Friday…The president is delaying the sale of the shares to try and avoid the story that the taxpayer took another loss. I would get the company independent from government and run for the interests of the consumer and the enterprise and its workers — not for the political considerations of government officials.”

Also put on the table was the notion of revisiting the CAFE regulations and perhaps seeking ”a better way of encouraging fuel economy”. Romney suggested a market driven approach, with “…vehicles that people want…”rather than government mandates, as a means of spearheading fuel economy increases. Romney claimed that co-operation would be essential to such measures, and also said that electric vehicles are “…a technology that people aren’t interested in.”

Romney’s words will find praise with a certain element on TTAC, but lest we forget that increasing fuel economy also means less revenue for the gas tax…and who knows where that could lead.