How will new fuel efficiency requirements that went into effect last week change the look, feel — and price — of your next car? Experts say expect prices to rise, and smaller, lighter, technologically advanced vehicles to grow in number.

New Corporate Average Fuel Economy (CAFE) standards published last week require most automakers to raise the average fuel efficiency of the vehicles they sell to 34.1 miles to the gallon by the 2016 model year rising to 35 mpg when efficiency gains in air conditioning are included. Currently, the CAFE for cars stands at 27.5 mpg, and 23.1 for light trucks.

The standards are expect to reduce CO2 emissions by about 30 percent between 2012 and 2016, and save the country $240 billion from fuel savings, pollution reduction and reduced imports. Automakers have accepted the new standards because they are firm, ending a period of uncertainty; and nation-wide, so manufacturers do not have to contend with a patchwork of different state requirements.