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U.S. seeks 5 percent annual fuel-economy gains through 2016

The Obama administration today proposed gasoline mileage and greenhouse-gas pollution standards for new vehicles for model years 2012 to 2015, filling in the blanks for manufacturers en route to a 35.5 mpg national target in 2016. The Transportation Department and EPA proposal calls for fuel economy to increase by about 5 percent each year, starting from an average of 27.3 mpg for the 2011 model year, the agencies said in a statement. The average car buyer would save more than $3,000 in fuel costs over the life of a vehicle, the statement said.

WINTER BREAKDOWN EXPENSE FOR USED CAR OWNERS

SOME VEHICLE components are nearly three times as likely to fail during the winter months as in the summer leading to potentially expensive repairs for the owners of older vehicles, according to Warranty Direct. The specialist insurer and warranty provider analysed 50,000 live automotive policies and found that ignition coils are 283 per cent more likely to fail between December and February than between June and August. Fuel injection pumps, thermostats and a number of electrical components are also more likely to suffer in the cold leading to an average winter repair bill of £408.60, the company has warned.

BMW bobsled carries Team USA to Winter Olympics victory

At the Sochi Winter Olympics, Team USA took home its first medal in two-man bobsledding since 1952. Steven Holcomb, a former Alpine skier and National Guard soldier, and partner Steven Langton raced to a third-place finish in the event -- despite Holcomb's sprained left calf that doctors had to treat long into the night before the race. The margin of victory for the bronze medal was just 0.03 second.