Honda are the latest car manufacturer to join an open European CO2 pool in order to help them reach 2020 EU CO2 compliance and avoid costly fines. According to exclusive Schmidt Automotive Research, sourcing official European Commission data, Honda that have had a lacklustre start from their Honda E electric model, have now decided to join the open FCA pool and benefit from Tesla's zero emission CO2 balance, and consequently boosting Tesla's regulatory credits further, which totalled just under $1.2 billion this year already .
According to the monthly European Electric Car Report published each month, Honda have registered just 1,000 Honda E BEV vehicles across Western Europe so far this year which accounted for just 2 per cent mix of their total regional registrations. With Tesla likely to make a large Q4 registrations push, with China manufactured vehicles reportedly on route to Europe – likely to make up the required volumes – as well as US manufactured vehicles, it appears Tesla with both lines supplying Europe in Q4, will have enough volume to accommodate incumbent FCA pool member's as well as Honda and benefit from the extra 2020 windfall. Tesla's Q1-Q3 West European volumes trailed previous year levels by 16 per cent according to the latest European Electric Car Report. FCA's PHEV push from their Jeep models (Renegade/Compass) totalling 1,200 Q3 units according to the report, and a slow roll-out from its 500e BEV model may also result in FCA requiring slightly less help than previously expected.
Volkswagen and MG/SAIC, as well as Ford and Volvo Cars have previously announced joint CO2 pools, as well as Toyota and Mazda announcing the extension of their pooling agreement for 2020 also.
More in-depth analysis is available each month in the European Electric Car Report, available on a monthly or annual basis here