What is the impact of EURO 7 standards on auto industry?
Recently, 8 EU member states including France and Italy?signed a joint document calling on the #EU to cancel the?emission regulations?of #euro7 standards, saying that it is too radical and unrealistic for car companies.
So what #impact will EURO 7 standards?have on auto industry?
Compared with the existing standards, the EURO 7 standards?aim to strengthen the restrictions on pollutants other than carbon dioxide, such as carbon monoxide and nitrogen oxides. It also sets additional restrictions on the emissions of brake particles and tire microplastics from all vehicles for the first time. In addition, emission testing methods are also more stringent.
As a representative of the European #autoindustry , recently, #acea quoted a research report saying that?new standards?will lead to a substantial increase in the direct cost of automobiles. According to research by the consultancy Frontier Economics, compliance with?EURO 7 standards, including type approval, investment and equipment costs, would add approximately €2,000 to the cost of each passenger car and minivan with an internal combustion engine, while diesel trucks and buses would cost even more. An increase of almost 12,000 euros.
These figures are about four to 10 times higher than the #europeancommission 's assessment that?EURO 7 standards could result in an increase of 180 to 450 euros for passenger cars and minivans and 2,800 euros for trucks and buses. ACEA believes that the additional cost will further push up the price of the end market of the car, and the resulting increase in car prices may exceed the estimated figure in the above study.
In addition to direct costs, ACEA believes that?EURO 7 standards?will also bring more indirect costs, such as higher fuel consumption. "Over the life of the vehicle, there could be an increase in fuel costs of 3.5%, which would add €20,000 for trucks and €650 for passenger cars and vans. These indirect costs were ignored in the European Commission's assessment," ACEA noted.
#volkswagengroup CEO Oliver Blume?also said that EURO 7 standards?will push up product prices and cause the company to lose its original competitiveness in the market, bringing the risk of layoffs. An executive at Volkswagen Group's Skoda brand has warned that if EURO 7 standards are?implemented, Skoda may close a factory in Europe,?because production of small cars such as the Fabia, Scala and Kamiq will have to stop, and at least 3,000 jobs will be lost.
#renault Group?Luca de Meo is also a member of the boycott of EURO 7 standards?and has publicly opposed it many times. De Meo previously wrote to EU institutions, saying that if EURO 7 standards?is implemented, the average price of European passenger cars will increase by 7% to 10%. In a worst-case scenario, 300,000 jobs in the European auto industry would be at risk, with multiple auto factories in Europe at risk of closing.
So what do you think of the EURO 7 standards?issued by the European Commission?
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