The European Union is dead serious about having auto companies operating in its jurisdiction comply with its carbon dioxide emission goals. In fact, two carmakers in the persona of Ferrari SpA and Aston Martin Lagonda Ltd., will be penalized monetarily after falling short of the specific emission target set by the European Economic Area (EEA).
Aston Martin and Ferrari were given specific emission targets of 310 grams and 295 grams of carbon dioxide per kilometer, respectively for 2015. However, these carmakers failed to achieve such targets, exceeding them instead of going below. For 2015, the average carbon dioxide emission for Aston Martin is 312.204 g/km, and for Ferrari is 299.448 g/km. Because of this failure, the two carmakers will be made to pay fines, calculated according to a formula that accounts for excess emissions and the number of registered cars. Using such a formula, Aston Martin and Ferrari will have to pay €36,370 ($37,928) and €410,760 ($428,383), respectively.
In 2009, the European Parliament and the Council adopted regulations to reduce carbon dioxide (CO2) emissions in the land transportation sector. The regulation sets the average CO2 specific emissions at 130 g/km by 2015 for new passenger cars, with an ultimate target of 95 g/km by 2021. According to the EEA Report number 27/2016, majority of carmakers were able to meet their CO2 specific emission targets in 2015. It noted that while some carmakers would have exceeded the target of 130 g/km, they were deemed as compliant because they are part of pools or because of derogations.
In 2015, the average carbon dioxide emissions of new cars in the EU was at 119.5 g/km, which is around 3.8 g/km lower (3.1 percent) lower than in 2014. Among large carmakers, the average CO2 emissions rating was at 118.5 g /km in 2015. It is pretty encouraging that 20 large carmakers had an average CO2 emissions level of below 130 g/km in 2015, compared to just 16 companies in 2014. Moreover, four of the 20 large carmakers had average CO2 emissions below 110 g/km – Peugeot (104 g/km), Citroen (106 g/km), Renault (106 g/km) and Toyota (108 g/km).
Interestingly, 41 percent of Toyota’s fleet had CO2 emission levels below 95 g/km. Meanwhile, 36 percent of Renault’s total vehicles had CO2 emission levels under 95 g/km. Peugeot and Citroen had 28 percent and 22 percent of their respective fleets falling below the 95g/km carbon dioxide emissions level.
A majority of large carmakers were able to cut their average CO2 emission levels in 2015, with the largest reductions posted by Jaguar Land Rover Limited (by 14.4 g/km to 164 g/km) and Daimler AG (6.9 g/km to 125 g/km).