PA Consulting’s CO2 research is featured in an article about the UK government’s decision to bring forward a ban on the sale of petrol, diesel, plug-in hybrid cars and SUVs to 2035 from 2040.
The article discusses the discontent among the key industry leaders with the decision and whether going carbon neutral within this time frame will be detrimental for the sector.
The article quotes a report from an investment researcher, Jefferies, which says that the auto industry faces fines of $36 billion. However, the article acknowledges that PA Consulting’s report on CO2 emissions portrays a slightly more optimistic view on the carbon fines.
PA estimates that the top 13 European manufacturers will need to pay over €14.5 billion ($16 billion) in fines to the EU. PA’s research also reveals that all manufacturers will now miss their 2021 targets, with Volkswagen facing the biggest fine of 4.5 billion euros ($5 billion).