CRU: New EU Auto Emissions Targets and Their Impact on Steel Demand
As of 1st January 2020, new tighter CO2 emissions limits came into force for new cars sold in the EU. It appears that the existing pattern of EU car sales does not meet the new requirements and for some OEMs the gap to compliance may be large. On balance we think that this situation presents a net negative to the demand outlook for steel from the EU automotive sector in 2020, relative to its current pattern.
The situation: the new target will be a stretch to achiev...