Carmakers face fines up to €13bn in push to reduce CO2

Europe's carmakers could face annual fines of up to €13bn for violating carbon emissions targets planned by the European Commission. An internal Commission document from DG Environment, seen by FT Deutschland, the Financial Times' sister paper, estimates that fines that could cost the industry between €4bn and €13bn a year. It is thought that DG Enterprise and Industry is pushing for much lower fines.