Car sales figures analysed by T&E show that the EU car industry will "almost certainly" fall short of its voluntary commitment to cut CO2 emissions and reduce consumers' fuel bill as oil prices hit record levels.
T&E says manufacturers would need to cut CO2 by an unprecedented 4.3% every year for the next three years if they are to meet their voluntary commitment to reduce emissions from new cars to an average 140 grams/km by 2008. It claims the European Commission even "informally postponed" its target date to reduce CO2 emission to 120 g/km by 2012.
Progress by car manufacturers in meeting their voluntary commitment is monitored on a yearly basis by the Commission. Last year, the Commission already noted that the pace in reducing emissions was below the 2% average per annum needed to meet the target (EurActiv 24 June 2005).