European carmakers face billions of dollars in fines for exceeding emission standards


09/20/2024

European car manufacturers are worried about facing huge fines for not meeting carbon dioxide emission rules as sales of electric cars drop, as stated in a press release by ACEA.



dtsomp
The EU will implement new rules in 2025 regarding the average emissions of cars sold, but it is doubtful that car manufacturers will be able to comply with them due to the sharp decrease in electric car sales in Europe.

Statistical data released on Thursday further supported this trend, indicating a 43.9% decrease in electric car sales in the European Union during August. In Germany, which is the biggest car market in Europe, electric car sales decreased by 68.8%. The proportion of electric cars in EU sales dropped to 14.4% from 21% in the previous year.

ACEA stated that carmakers may encounter the choice of either paying hefty fines amounting to billions of euros or reducing production and workforce.

The organization urged EU officials to quickly reassess policies in order to decrease carbon dioxide emissions. Regulatory reviews for vans and heavy trucks are set for 2026 and 2027, but the association wants them to happen in 2025.

source: reuters.com