Auto concerns are scared by fines of 14 billion euros because of the introduction of new emission standards in the EU

Auto concerns are scared by fines of 14 billion euros because of the introduction of new emission standards in the EU

August 8, 2018 0 By autotimesnews

The automakers will be punished after the new norms come into effect in 2020-2021. With their violation, brands that sell their models on the European market can accumulate up to € 14 billion in fines in two years. This is stated in the report of the analytical agency IHS Markit.

“Automakers that have not met the carbon emissions requirements for cars sold in the EU can be fined more than € 14 billion by 2021,” – the IHS Markit research company said in a report.

According to enacted regulations, carbon dioxide emissions should not exceed 114.8 g / km. In accordance with the baseline scenario prepared by IHS Markit, on average the emissions of vehicles sold in European countries by this time will amount to 122.9 g / km.

IHS Markit experts predict that 25 automakers are working to meet all the requirements in two to three years, they are thinking how to reduce emissions by taking into account the development programs for electric vehicles and hybrid cars.

Large fines will be difficult to avoid 27 brands, since their models by the indicated deadline, most likely, will not meet the above standards. According to Exane BNP Paribas experts, the French concerns PSA Group and Renault can not be more lucky in this respect.

IHS Markit deputy director Vijay Subramanyan stressed that if these companies fail to meet the new standards in time, the average penalty for them will reach € 624 per car by the end of 2020 and will grow by € 190 in 2021.