The European Commission has published a new set of guidelines for member states to increase the demand for low CO2 emission vehicles in the European Union.
This initiative underscores the promotion and use of financial incentives suggested by the CARS 21 Final Report which complements the vision for the automotive industry’s competitiveness and sustainability in 2020.
The proposed financial incentives will consist of grant loans, tax deductions and other forms of fiscal incentives or incentives in other monetary forms.
As present guidelines for financial incentives tend to differ across the EU, the need has been felt for the implementation of a common framework among member states which could help simplify the production and assembly of more vehicles and the prompting of lower and more attractive prices for consumers.
The new guidelines encompass a set of mandatory principles which deal with non-discrimination with respect to the origin of the vehicle, compatibility with the EU type-approval legislation, the implementation of EU state aid rules and the procurement rules which are applicable to cars, vans, buses, trucks and two, three and quad wheeler vehicles.
According to vice-president Antonio Tajani, the Commission has long supported the development of clean and energy efficient vehicles and these guidelines and the common framework proposed for financial incentives will simultaneously help reduce CO2 emissions and increase demand for clean cars.
For more information visit http://ec.europa.eu/enterprise/index_en.htm .
This information is made available by Impetus Europe Consulting Group Ltd.
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