To comply with the new Corporate Average Fuel Economy (C.A.F.E.) standards, automakers are expected to increase the average fuel economy of their vehicles to 54.5 Miles per Gallon (MPG) by 2025. This research aims at proposing a feasible solution to narrow down the gap between the current and expected fuel economy of the vehicles, yet maintaining the engine’s original performance. A standard model of the KTM 500 cc single cylinder, fuel injected, internal combustion engine (ICE) is modelled and simulated in Ricardo Wave software package to map the stock engine performance and specific fuel consumption at wide open throttle (WOT). The baseline simulation model is validated against the experimental readings with 98% accuracy. The intake valve timings (IVO, IVC), valve lift and valve profile, being major contributors to the wave and gas dynamics in the combustion chamber are then varied at all engine speeds to capture the amplified induction pressure wave to boost the volumetric and thermal efficiency and attain optimized engine performance. As a combined effect of a varying the above parameters, the engine performance is boosted up to 10 percent throughout the engine’s operating speed range. The required number and span of variations in the above-mentioned parameters is also found to drastically reduce as compared to varying each of them individually, making this a feasible and easy to package setup. The throttle angles are then varied at all engine speeds in the optimized model to match the engine’s original performance and fuel consumption is found to reduce up to 6 percent throughout the engine’s operating speed range.