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PA Consulting's Analysis Shows Top Car Makers Will Face a?¬14.5bn Fines for Missing the EU's CO2 Emissions Targets

CO2 emissions are increasing and car makers must actA A  LONDON, Jan. 13, 2020 /PRNewswire/ -- Europe's 13 top car manufacturers will miss their 2021 targets and will face fines of more than a?¬14.5bn, according to the annual forecast of car manufacturers' performance against mandatory EU CO2 emissions targets, published by PA Consulting, the global innovation and transformation consultancy.
PA Consulting's Analysis Shows Top Car Makers Will Face a?¬14.5bn Fines for Missing the EU's CO2 Emissions Targets
After four years of steady progress, PA's research has revealed a step backwards. Emissions have increased across the board, mainly due to customers buying SUVs, strong demand for high-powered and heavier cars, lack of low-emission options in showrooms, and shifting preference for petrol cars after the diesel scandal.Some car makers will see penalties high enough to have a material impact on their profitability and reputation. Volkswagen could be fined as much as a?¬4.5 billion due to its high sales volumes across Europe. Equally, previous top performers such as Renault-Nissan-Mitsubishi, Volvo and Jaguar Land Rover look set to fall short. Even Toyota, the market leader in hybrid vehicles, is forecast to miss its target. Jaguar Land Rover would face the biggest impact from fines based on EBIT (93 million Euros, representing 400 per cent of its 2018 profit).
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