President Barack Obama, left, reaches out to shake hands with Ford Chief Executive Officer Alan Mulally, right, during an announcement Tuesday on new fuel and emission standards for cars and trucks in the Rose Garden of the White House. From left are Obama; Chrysler Chief Executive Officer Bob Nardelli; GM President Fritz Henderson; Mulally; Honda Executive Vice President John Mendel, rear; and Volkswagen Group of America President and Chief Executive Officer Stefan Jacoby.

Washington ? President Barack Obama is asking consumers to put their money — up to $1,300 per new vehicle by 2016 — behind his plan for higher efficiency standards for cars and trucks and tougher rules on their greenhouse gas emissions.

In return, Obama said Tuesday in unveiling the plan, drivers would make up the higher cost of more fuel-efficient, cleaner vehicles by buying less gas at the pump. It would take just three years to pay off the investment and would, over the life of a vehicle, save about $2,800 through better gas mileage, the president said.

While requiring that vehicle carbon dioxide emissions be reduced by about one-third by the target date, the plan also calls for the auto industry to build vehicles that average 35.5 miles per gallon. Government regulations have never before linked emission and fuel standards.

“The fact is, everyone wins,” Obama said during a Rose Garden ceremony attended by representatives of the auto industry and environmental groups as well as state and federal lawmakers.

“Consumers pay less for fuel, which means less money going overseas and more money to save or spend here at home. The economy as a whole runs more efficiently by using less oil and producing less pollution,” he said. “And companies like those here today have new incentives to create the technologies and the jobs that will provide smarter ways to power our vehicles.”

Obama said the proposal would save 1.8 billion barrels of oil over the lifetime of the vehicles sold in the next five years.