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Auto industry seen consolidating as falling demand, higher costs bite
The auto industry faces further consolidation and jobs will migrate to lower-cost countries as companies struggle to develop cleaner vehicles in an economic downturn, European Auto Industry (ACEA) president Mike Manley said on Wednesday. Tighter emission rules introduced in the wake of Volkswagen’s diesel pollution cheating scandal are forcing carmakers to cut average fleet emissions of carbon dioxide to 95 grams per kilometer in 2021, from an average 118.5 grams per kilometer in 2017.
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