Study on passenger motor vehicle ownership

(a) In general The Administrator shall seek to enter into an agreement with the National Academies of Sciences, Engineering, and Medicine under which the National Academies shall conduct a study on the average age of passenger motor vehicles and passenger motor vehicle ownership costs. (b) Contents The study conducted under subsection (a) shall include an analysis of the following: (1) Trends with respect to the average age of passenger motor vehicles. (2) Trends with respect to passenger motor vehicle ownership costs, including trends with respect to— (A) total lifecycle costs; and (B) related factors, including— (i) initial purchase price; (ii) motor vehicle manufacturing and supply chain matters; (iii) financing; (iv) insurance; (v) subscriptions; (vi) power requirements, such as with respect to electricity, gasoline, and other fuels; (vii) repair and maintenance; (viii) depreciation; (ix) optional safety features; and (x) optional convenience features. (3) Legal, policy, economic, and regulatory factors that affect the average age of passenger motor vehicles, passenger motor vehicle ownership costs, and consumer understanding of such costs. (c) Report Not later than 3 years after the date of the enactment of this Act, the Administrator shall submit to the relevant congressional committees a report on the results of the study conducted under subsection (a).