$4,982 (16.8%), meaning that while the average MSRP was almost $30,000, the average buyer of a new car paid only $24,764. Dr. Jane Liu, the Vice President of Data Analysis for Edmunds.com further stated that, "New models are being introduced at higher price points, but the competitiveness of the market is dramatically pushing down net prices, resulting in a record average discount". The lowest discounts among all car segments were given on luxury SUVs, where buyers received an average 10% discount, resulting in a $43,725 net price, versus the sticker price of $48,586. Fuel economy The American automobile industry became notorious for the manufacture of gas guzzlers during the 1960s and 1970s when fuel prices and consumer awareness concerning fuel economy were at an all-time low. American-made cars took on enormous proportions as consumers placed their emphasis on comfort, power and style. Large sedans from this era came to be known as land yachts, often rivaling today's largest pick-up trucks in terms of length and width. In 1977, the Lincoln Continental Mark V was reviewed by the German automobile magazine auto motor und sport and still holds the record for the worst fuel economy of any vehicle ever tested by the magazine with an average of 7 MPG (33.5L/100 km). Following the 1973 oil crisis, however, smaller vehicles, often imported from Japan, became more and more popular with the American public as these vehicles featured better fuel economy ratings. In 1975, the US government passed minimum fuel economy standards. From the late 1970s, American automobile manufacturers drastically downsized their cars. Only a few vehicles, such as those using the Ford Panther platform retained their original size. With fuel prices returning to 1960s levels, many American manufacturers again increased the size of their vehicles in the 1990s. In 2020 the average light-duty automobile, including light trucks, in the US had a fuel economy rating of 23.0 MPG or 10.2 liters per 100 kilometers. The average fuel economy for passenger vehicles in the United States remained stagnant throughout the 1990s and 2000s, peaking in 2001 and 2004. The 90s saw the slowest increase in fuel economy since 1960, with fuel economy increasing from 16.4 MPG in 1990 to 16.9 MPG in 2001. This is in contrast to the 1980s when the average fuel economy improved somewhat more significantly from 13.3 MPG in 1980 to 16.4 MPG in 1990. Body style and size