Petroleum Review reported on PA Consulting Group's annual forecast of car manufacturers' performance against mandatory EU CO2 emissions targets. Results of PA's report suggest that Ford, BMW, Volkswagen, Fiat Chrysler, Peugeot Citroen including Open/Vauxhall, and Hyundai-Kia will miss their 2021 targets, leaving them facing significant fines.
The carmakers race to 2021 has started
Thomas Goettle, head of automotive at PA, is quoted in the article, saying: "Car makers across Europe need to make radical changes in order to meet the EU CO2 emissions targets for 2021. Many of them need to focus on developing new models that will appeal to the consumer and help them meet their targets. There is nothing less than a revolution facing the car industry and those manufacturers who fail to keep up face potential fines in the billions."