PARIS -- Most major automakers are likely to fall short of meeting the European Union's upcoming carbon dioxide emissions goal, and could face big fines as a result, a consultants' report said.
PA Consulting ranked automakers according to their progress in meeting the EU's target to reduce CO2 emissions of new cars sold in Europe to a fleet average of 95 grams per km in 2021 from 118g/km last year.
Just three of 11 automakers -- Volvo, Toyota and Renault-Nissan -- are in position to reach that goal, it found. Automakers who fall short will face fines of 95 euros per gram over the limit for each vehicle.
Volkswagen Group, Fiat Chrysler Automobiles, PSA, BMW and Ford are among automakers who could be fined for falling short of their targets (see table below).