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FCA stock plunged — VW/Audi the culprit?

by David Zatz on

FCA stock has plunged over the last few days, possibly because the company produces a huge number of diesel engines worldwide, and the Volkswagen-Audi group “cheating” scandal is spreading by inference.

FCA has not been accused of tampering with emissions software or any other wrongdoing.  BMW, on the other hand, was accused by German publication Autobild of building SUVs that exceeded European limits for air pollution. BMW wrote that it doesn’t cheat on emissions tests; its stock also fell. Volkswagen-Audi did not admit to cheating for months after the EPA started investigating.

VW Volkswagen diesel

FCAU stock is now at $13.11 per share, having recovered somewhat, still well below its price before the VW-Audi scandal.

The company used software that detected U.S., German, and possibly other government tests, temporarily cutting NOx emissions in response. Oxides of nitrogen have been linked to asthma, breathing issues, and smog.

Some readers have already started blaming the EPA for this issue, given its recent accidental Colorado River spill. However, the law clearly prohibits writing software that changes the outcomes for testing purposes, and provides for punitive fines to prevent companies from doing the same thing again.

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