Australian consumers are right to be confused as the global car industry is at odds with itself this week in the wake of the new vehicle efficiency standard (NVES) proposed by the federal government.
Australia has not updated its standards since 2009 and this one will bring Australia into line with 85% of the rest of the world. The standard essentially works as a limit on the average annual carbon emissions the cars sold by each car manufacturer can emit. If they meet the standard, they receive credits and, if they don’t, they receive penalties unless they buy credits.
