GM To Pay $145.8 Mln Over Excess Emissions From Approx. 5.9 Mln Vehicles : Reuters

(RTTNews) - General Motors Company (GM) received a penalty of $145.8 million over excess emissions from around 5.9 million vehicles of the 2012-2018 model full-size pickups and SUVs, and midsize SUVs, according to a report by Reuters.

The issue came to light after the Environmental Protection Agency or EPA's investigation found that the automaker's 2012-2018 model vehicles released over 10 percent higher carbon dioxide than the company's initial compliance records.

The EPA said the company has agreed to give up around 50 million metric tons in carbon allowance.

Meanwhile, the National Highway Traffic Safety Administration stated that the company will pay the penalty as well as cancel over 30.6 million fuel economy credits for the 2008-2010 model years to resolve the issue.

The US-based company commented that it "has at all times complied with and adhered to all applicable laws and regulations in the certification and in-use testing of the vehicles in question", adding that "this is the best course of action to swiftly resolve outstanding issues with the federal government regarding this matter."

Currently, General Motors is trading at $46.54, down 0.86 percent on the New York Stock Exchange.