European Union officials told leading automakers Wednesday to make deep cuts in tailpipe emissions of the cars they produce or face fines that could reach billions of euros during the next decade. Carmakers including Volkswagen and Renault immediately promised a fight to weaken the draft legislation, saying that compliance would be difficult and that it would hurt their competitiveness on a global level...None of the 17 major manufacturers selling cars in Europe, including makers of smaller vehicles like Fiat of Italy, currently meets the proposed targets...[A] spokesman for Toyota...also voiced doubts about the timetable. "This is a little bit of a challenging task for us, because of the lead time for achieving the target," he said...The manufacturer furthest from meeting the new target is the German sports car maker, Porsche, according to EU officials. [also refers to Peugeot]