London (CNN Business) The auto industry is pushing back on new EU targets that would slash carbon emissions produced by cars and vans.

EU officials struck a deal late Monday that aims to reduce automakers' carbon dioxide emissions from new cars by 37.5% ahead of 2030. The targeted reduction for new vans is 31%.

The European Automobile Manufacturers Association, which represents carmakers including Volkswagen, Daimler, BMW, Renault ( RNSDF ), Toyota ( TM ) and Honda ( HMC ), criticized the measure as "totally unrealistic."

"Industry deplores that these 2030 targets are driven purely by political motives, without taking technological and socio-economic realities into account," the lobby group said in a statement.

It warned that the targets would have a "seismic impact on jobs across the entire automotive value chain."

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