New EU data on plug-in hybrids (PHEVs) should worry not just environmentalists but leasing firms and fleet financiers.
Analysis by Transport & Environment (T&E) shows PHEVs registered in 2023 emit 139g CO₂/km in real driving – almost five times the 28g/km in official tests.
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With the EU’s “utility factors” tightening in 2025 and 2027, PHEVs will appear far dirtier on paper. Carmakers face a choice: sell fewer hybrids, push more battery-electrics or pay rising compliance penalties.
For lessors and banks, the risk is residual values. Portfolios built on the assumption that PHEVs were “green” could see weaker second-hand demand and lower prices once new rules kick in. That means higher provisioning and lease repricing.
As T&E’s Lucien Mathieu warns, “the gap with reality has only gotten worse.” Policymakers may hold firm, but finance players must now reprice the downside risk of hybrids once seen as a safe bridge to full electric.
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By GlobalData
