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Fiat Chrysler shares tank on report of pending EPA action on emissions
January 12, 2017 / 4:05 PM / a year ago

Fiat Chrysler shares tank on report of pending EPA action on emissions

MILAN (Reuters) - Fiat Chrysler shares slumped on Thursday after a Reuters report said the U.S. Environmental Protection Agency will accuse the group of using software that allowed excess diesel emissions in just over 100,000 U.S trucks and SUVs sold since 2014.

People talk as they stand next to a logo of Fiat Chrysler Automobiles (FCA) in Turin March 31, 2014. REUTERS/Giorgio Perottino

The Milan-listed shares in the Italian car maker erased more than one tenth of their value in just 20 minutes of trading after the news broke. The stock was automatically suspended several times because of the heavy losses and was last down 13 percent.

The EPA will announce the findings at an 11 a.m. conference call, Reuters said in the source-based.

Fiat Chrysler declined to comment.

Reporting by Agnieszka Flak; editing by Danilo Masoni

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