AUTO INDUSTRY NEWS

Ferrari, Aston Martin face fines after failing to meet EU C02 mandate

Ferrari, Aston Martin face fines after failing to meet EU C02 mandate image

Aurick Go / Aston Martin, Ferrari | December 20, 2016 14:38

Automakers forced to pay an estimated 500,000 euros after failing EU C02 emissions

With even more stringent requirements for emission regulations, the European Union (EU) cites two automakers with a failure to reach standards back in 2015. Both Ferrari and Aston Martin were indicated as having not met the targets set by the European Economic Area (EEA), and will be forced to settle some rather large fines.

According to EEA’s annual report, new cars back in 2015 emitted an average of 119.5 grams of CO2 per kilometer. Those numbers are apparently 3.1 percent lower than that of the last year’s, and represents an 8 percent decrease over their target of 130 g/km.

"To meet their EU 2020/21 targets 95 g/km the average CO2 emissions from new cars and vans will need to continue decreasing at a similar pace," the EEA said in its report. "The majority of car and van manufacturers met their CO2 specific emission targets in 2015 and some are well on their way to reaching the 2020/21 target."

In contrast to the industry’s decrease in emissions however, Ferrari and Aston Martin reportedly breached their fleet emission targets for the year. This breach will likely result in fines of around €500,000 ($521,452).

Ferrari takes the blunt of the fines, being required to settle €410,760 ($428,383). Aston Martin on the other hand will only have to cover €36,370 ($37,928).