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New civil suit facing Fiat Chrysler

Wednesday, May 24, 2017 - 01:11

Fiat Chrysler shares have fallen after the U.S. government filed a civil lawsuit accusing the automakers of illegally using software to bypass emission controls in 104,000 diesel vehicles sold since 2014. Laura Frykberg reports.

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A reverse of fortune for Fiat Chrysler. The Italian carmaker faces a new civil lawsuit in the U.S. For allegedly cheating emissions tests with illegal devices in more than 100,000 diesel vehicles since 2014. But unlike Volkswagen, Fiat Chrysler denies the claim. SOUNDBITE (English) OANDA SENIOR MARKET ANALYST, CRAIG ERLAM, SAYING: "It seems that the device did actually help the carmaker cheat the tests, what they're claiming is that was not the intention of it." The company faces several similar lawsuits in America. Amid growing scrutiny of diesel vehicles around the world. And while Fiat Chrysler says it will vigorously defend itself against the allegation. Some say it will ultimately pay the price. SOUNDBITE (English) OANDA SENIOR MARKET ANALYST, CRAIG ERLAM, SAYING: "It does seem there is going to be a very big cost associated with it because ultimately they are going to have to fix the devices and potentially replace some cars." Shares in the company have already taken a turn, falling 2 percent. Its drop making European auto stocks among the biggest fallers in the sector on Wednesday.

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New civil suit facing Fiat Chrysler

Wednesday, May 24, 2017 - 01:11