A Volkswagen Golf GTI is parked in the parking lot with a view of the brand tower inside the Volkswagen factory in Wolfsburg.
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Shares of European automakers fell on Wednesday Report Some of the world’s biggest carmakers could face lawsuits in the UK for allegedly cheating on emissions tests.
German carmaker stocks Porsche It fell more than 6% at around 1:15pm London time, heading towards the bottom of the pan-European index Stoke 600 index.
German car manufacturer BMW and Volkswagen Shares fell about 1%, with Sweden’s Volvo Cars falling 2.7%.
Valeo France, Valeo Germany Benz Both are in negative territory. fiat owner star It erased early losses and edged higher in afternoon trading.
EU imposes import tariffs on Chinese electric cars Reuters reports Carmakers faced 1.5 million “dieselgate” lawsuits in the UK on Tuesday, potentially causing at least 6 billion pounds ($7.65 billion) in losses.
Manufacturers include Mercedes-Benz and U.S. automaker Ford They allegedly misled customers about whether certain vehicles met nitrogen oxide emissions standards, the report said at London’s High Court on Tuesday, citing lawyers for the claimants.
A Ford spokesperson told CNBC that they believe the allegations have “no merit” and that the automaker is “vigorously defending against these allegations.” “Our vehicles and engines meet all applicable emissions requirements,” they added.
Separately, a Mercedes-Benz spokesman said the ongoing hearing “involves procedural issues related to previous emissions-related claims against multiple” original equipment manufacturers.
They added: “We continue to believe that the allegations against Mercedes-Benz are without merit and will vigorously defend ourselves against these allegations or any class action lawsuit through the necessary legal means.”
The “dieselgate” emissions scandal refers to reports that first emerged in 2015 that Volkswagen was found to have cheated on emissions tests in the United States. .
Volkswagen explain In 2020, the scandal cost the company more than 31 billion euros ($33.3 billion) in fines and settlements.
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