Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

BMW expects to cut average emissions in Europe by 20% this year

Published 02/20/2020, 06:46 AM
Updated 02/20/2020, 06:51 AM
BMW expects to cut average emissions in Europe by 20% this year
BMWG
-

MUNICH (Reuters) - BMW (DE:BMWG) will continue to grow sales globally while at the same time lowering its European average emissions of carbon dioxide by around 20% this year, Chief Financial Officer Nicolas Peter said on Thursday.

Carmakers need to lower their output of carbon dioxide, a greenhouse gas blamed for global warming, but carmakers have struggled to meet stricter emissions goals as clients increasingly choose to buy heavier sports utility vehicles.

"The fleet average emissions will go down significantly in 2020, by around 20%," Peter told journalists at a roundtable discussion in Munich. BMW's fleet average emissions were 128 grams per kilometer in 2018, and just below that in 2019, he said.

In 2020, BMW's fleet average emissions will be just over 100 grams per kilometer and the carmaker will meet the emissions standards for 2021, thanks to higher sales of electrified vehicles and more efficient combustion engines, he said.

Peter reiterated that BMW expected to grow sales in 2020.

"We have started well into January and grew sales in China," Peter said, adding that the carmaker had sold around 175,000 cars in January.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.