01:21 PM EDT, 07/03/2024 (MT Newswires) -- (Updates with statement from General Motors ( GM ) in the fifth to seventh paragraphs.)

General Motors ( GM ) has agreed to pay penalties of more than $145.8 million for corporate average fuel economy compliance issues related to certain model years 2012-2018 vehicles, a National Highway Traffic Safety Administration spokesperson told MT Newswires on Wednesday.

The company will also cancel more than 30.6 million CAFE credits for model years 2008-2010 to resolve issues identified through the Environmental Protection Agency's light-duty vehicle in-use testing program, the NHTSA spokesperson said.

Meanwhile, the EPA said Wednesday GM agreed to retire about 50 million metric tons of greenhouse gas credits to resolve excess carbon dioxide emissions identified through the program.

The agreement is due to an EPA investigation that identified excess emissions from about 5.9 million 2012-2018 model-year vehicles currently on the road, the EPA said.

GM said in a statement emailed to MT Newswires that it has voluntarily retired 49 million megagrams of greenhouse gas credits, setting the greenhouse gas values of the vehicles to about 10% below the levels that the EPA's in-use regulation requires.

"Concurrently, GM will resolve outstanding issues with NHTSA through a combination of compliance mechanisms," the company said.

The company denied wrongdoing or any noncompliance with pertinent laws or regulations.

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