Standardising car safety regulations between the EU and US would cut vehicle production costs by 2.5 billion Euros and reduce vehicle ownership costs, according to a report from the Centre for Automotive Research (CAR).
Meeting two different sets of standards is adding around 230 Euros to the cost of every car, pushing up prices and reducing the funds available to research new models, it says.
Different standards affect a range of areas from components to vehicle design, with specific examples including wipers, mirrors, airbags, door latches, child seating, fuel systems, licence plate mountings, headlamps and seatbelts.
The study follows an earlier wide-ranging report which estimated that merging all US-EU automotive regulations, such as emissions laws, would save 18 billion Euros.
Our regular automotive industry News & Insights are no longer being published on the Autovista Group Market Reports website.
Instead, you can now find the latest updates at our central Autovista Group website, home to our pan-European brands including Autovista, Eurotax, Glass's and Schwacke.
To stay up to date with rapidly changing market trends, we recommend signing up to our free Autovista Group Daily Brief which delivers our daily news stories directly to your inbox.
You can still find our in depth market reports here on the Autovista Group Market Reports site. Keep checking back as we have an exciting new report due to be launched shortly!