Fines threaten BMW, Jaguar and Volkswagen
Het Financieele Dagblad | 19 May 2016
PA’s CO₂ emissions report is featured in an article in Het Financieele Dagblad discussing the new pollution targets set for the motor industry.
The article states that several European carmakers will likely have to pay fines because they risk missing the tough targets the EU has set surrounding the amount of carbon newly-manufactured vehicles should produce.
BMW, Jaguar and Volkswagen look set to miss their targets which will lead to BMW having to reserve an estimated €100 million for penalties. Volkswagen may also have to pay €1 billion.
The European Commission demands car manufacturers reduce their emissions to an average of 95g/km CO₂ maximum by 2021, but most manufacturers are doing well in meeting these new targets. Mercedes, for instance, will introduce new smaller models next year that will emit significantly less carbon dioxide.
The CO₂ emissions challenge: how can carmakers meet the 2021 targets for CO₂ emissions?
Peugeot Citroen, Fiat, Renault-Nissan, Toyota and Volvo are also coping well thanks to their determined effort over several years. Jaguar Land Rover is likely to miss their target, but a small European car manufacturer the fines are less of a problem.
The article states that the switch to making electric vehicles is a logical one to reduce emissions, but sales are still too low to make a difference to carbon emissions.