Volkswagen and FiatChrysler could face penalties of up to €1.83-billion and €746-million respectively, if they fail to meet the European Union’s emissions targets set for 2021, according to AlixPartners. The study by the consulting firm, which was published on Wednesday, shows how hard it is for carmakers to meet European rules for cutting average fleet emissions for passenger cars to 95 grams of carbon dioxide per kilometre by 2021.