Market research firm JATO Dynamics, in their report published recently mention about Toyota, PSA/Peugeot-Citeron and BMW being the car makers who are most likely to be the ones capable of reaching the CO2 targets set by the European Union. The CO2 restrictions imposed is to endeavor that by 2015 the average CO2 level of the cars selling in Europe is maintained at a level of 130 g/km.
For reaching the set target every year there is a progressive lowering of the CO2 emission levels being set by the European Union. It was 145.9 g/km in 2009 and was lowered to 140.9 g/km for 2010. Automakers who do not comply with the emission standards being laid down would face heavy penalty starting next year when the regulations come into force in letter and spirit.
For every vehicle produced between 2012 and 2018 car makers would be penalized €5 per unit for the first g/km of CO2 and then €15 for the second gram, €25 for the third gram and €95 from the fourth gram onwards. This boils down to a €5 million fine or $7 million in converted rates for a company that manufactures 1 million cars and is off the CO2 emission standards by 1 g/km.
As per the threshold set for this current year, the ones closest to the target, that is Toyota, PSA and BMW would have to reduce the overall emissions by seven percent. There are the other car makers like Daimler, Mazda and Nissan who are way out of the set target of the year and need to reduce their CO2 emissions by 19.8 to 17.6 percent.
Last year it was Fiat that had the lowest CO2 level with that of 125.9 g/km. The company has to reduce it to 116.1 g/km by 2015. The CO2 emission standards calculated by the European authorities are created on a weigh-based system. Being the largest seller of small cars the manufactures has the lightest of cars, 1.067 kg or 2.353 lbs, in 2010 in the automotive market.