5.4.2014 Official Journal of the European Union L 103/15 REGULATION (EU) No 333/2014 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 11 March 2014 amending Regulation (EC) No 443/2009 to define the modalities for reaching the 2020 target to reduce CO, emissions from new passenger cars THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty on the Functioning of the European Union, and in particular Article 192(1) thereof, Having regard to the proposal from the European Commission, After transmission of the draft legislative act to the national parliaments, Having regard to the opinion of the European Economic and Social Committee (1), After consulting the Committee of the Regions, Acting in accordance with the ordinary legislative procedure (3), Whereas: (1) Pursuant to Article 13(5) of Regulation (EC) No 443/2009 of the European Parliament and of the Council (%) the Commission is to review the modalities of achieving the 95 g CO,/km target by 2020 in a cost-effective manner, including the formulae set out in Annex I to that Regulation and the derogations provided for in Article 11 thereof. It is appropriate that this Regulation be as neutral as possible from the point of view of competition, socially equitable and sustainable. (2)  The further development of the worldwide market for advanced technologies aimed at improving the efficiency of passenger cars is in line with the Commission’s Communication of 21 January 2011 entitled: ‘A resource-efficient Europe — Flagship initiative under the Europe 2020 strategy’, which supports the shift to a resource-efficient, low- carbon economy for achieving sustainable growth. (3) It is appropriate to clarify that, for the purpose of verifying compliance with the target of 95g CO,/km, CO, emissions should continue to be measured in accordance with Regulation (EC) No 715/2007 of the European Parliament and of the Council (*) and its implementing measures and innovative technologies. (4)  High fossil fuel prices have a negative impact on economic recovery and on energy security and affordability in the Union. Increasing, therefore, the efficiency and sustainability of new passenger cars and light commercial vehicles, thus reducing the dependency on oil, is a priority. (5)  In recognition of the high research and development and unit production costs of early generations of ultra-low emission vehicles, it is appropriate to accelerate and facilitate, on an interim basis and to a limited extent, the process of their introduction into the Union market at their initial stages of commercialisation. Actors at different levels should give appropriate attention to identifying and disseminating best practices for stimulating demand for ultra-low emission vehicles. (6)  The lack of alternative fuel infrastructure and of common technical specifications for the vehicle-infrastructure interface could be an obstacle to the market uptake of ultra-low emission vehicles. Ensuring the building-up of such infrastructure in the Union could facilitate the work of market forces and contribute to economic growth in Europe. (7 In recognition of the disproportionate impact on the smallest manufacturers resulting from compliance with specific emissions targets defined on the basis of the utility of the vehicle, the high administrative burden of the derogation procedure, and the marginal resulting benefit in terms of CO, emissions reduction from the vehicles sold by those manufacturers, manufacturers responsible for fewer than 1000 new passenger cars registered in the Union annually should be excluded from the scope of the specific emissions target and the excess emissions premium. In order to ensure from the earliest point legal certainty for those manufacturers, it is essential that this derogation apply from 1 January 2012. () OJ C 44, 15.2.2013, p. 109. (%) Position of the European Parliament of 25 February 2014 (not yet published in the Official Journal) and decision of the Council of 10 March 2014. (}) Regulation (EC) No 443/2009 of the European Parliament and of the Council of 23 April 2009 setting emission performance standards for new passenger cars as part of the Community’s integrated approach to reduce CO, emissions from light-duty vehicles (O] L 140, 5.6.2009, p. 1). (*) Regulation (EC) No 715/2007 of the European Parliament and of the Council of 20 June 2007 on type-approval of motor vehicles with respect to emissions from light passenger and commercial vehicles (Euro 5 and Euro 6) and on access to vehicle repair and maintenance information (O] L 171, 29.6.2007, p. 1).