Fiat Chrysler Auto plunges after EPA emissions accusation
Shares in Fiat Chrysler Automobiles skidded to a halt on Thursday after the US Environmental regulator warned the carmaker could be further penalised for using emissions-cheating software in more than 100,000 diesel vehicles.
Cboe IT 40
3,431.37
13:20 01/12/20
Fiat Chrysler Automobiles
€12.57
16:25 23/03/23
Fiat Chrysler Automobiles N.V.
$22.58
11:10 17/05/24
Fiat Chrysler Automobiles Nv
€0.00
10:34 07/05/24
The Environmental Protection Agency said Fiat "may be liable for civil penalties" for installing and failing to disclose "engine management software" that masked vehicles production of illegal pollution levels.
FCA violated the Clean Air Act by installing the software in its "light-duty model year 2014, 2015 and 2016 Jeep Grand Cherokees and Dodge Ram 1500 trucks with 3.0 liter diesel engines sold in the United States."
Reuters reported that a person briefed on the matter said Fiat did not agree with the EPA's assessment.
But trading in the shares was halted in New York after the stock price slid more than 18%.