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Manufacturers will have to pay
The international consulting firm PA Consulting calculates that the 13 leading car manufacturers face fines of 14.5 billion euros for missing their CO₂ emissions targets.
Manufacturers will have to pay
Emissions have risen, largely due to the purchase of SUVs, strong demand for powerful and heavier cars, the lack of low-emission options on sale and changing preference for petrol engines following the diesel scandal. Volkswagen is threatened with a fine of up to 4.5 billion euros due to its high sales volume throughout Europe, and Renault-Nissan-Mitsubishi and Volvo are also likely to have problems. Even Toyota, the market leader in hybrid vehicles, is expected to narrowly miss its target. Michael Schweikl, automotive expert at PA Consulting: “Car manufacturers don’t have the time to reduce emissions quickly enough and avoid fines.” CO₂ emissions can only be reduced in the near future by offering discounts for electric and plug-in hybrid vehicles and offering services to increase low-emission vehicle use in 2020. The ranking of the CO₂ forecast for 2021 shows Toyota in first place. PSA is second, overtaking Renault-Nissan-Mitsubishi. Volvo, Volkswagen, Daimler and BMW are further away from their goal than last year. PA analysis shows that car manufacturers in Europe would need to sell more than 2.5 million additional battery electric vehicles to meet their targets.