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Car finance manufacturers facing large fines over CO2

The EU deadline for CO2 emissions is looming and it’s been revealed that quite a few big manufacturers will be facing large fines unless they drastically reduce their CO2 figures.

The EU deadline for CO2 emissions is looming and it’s been revealed that quite a few big manufacturers will be facing large fines unless they drastically reduce their CO2 figures. The new law, which is due to come into effect in 2012, is forcing car finance companies to drastically reduce their average CO2 across their ranges to help the environment.

“Some of the companies at the bottom of the table have big expansion plans, but unless they get a grip on CO2 outputs, they are going to face a glass ceiling of 300,000 sales per year," said Jay Nagley, of Clean Green Cars.

"Selling more than 300,000 cars a year, while missing the target by 20 g/km, would incur a fine of over €1,500 for every car sold, which is an impossibly high figure," he said.

So will companies like Chevrolet be able to reduce their CO2 enough to satisfy the EU? The next few months are going to be very interesting, indeed.

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