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Mar 05

The kind that always did the right thing

European carmakers have lost about US$50bil in market value since Wolfsburg, Germany based Volkswagen admitted on Sept 18 that some of its diesel engines were equipped with software designed to circumvent emissions tests in laboratories. Volkswagen shares have plunged 40% in the period, while Paris based PSA Peugeot Citroen have dropped 14% and Fiat Chrysler stock traded in Milan has fallen 9%. German auto parts supplier Schaeffler AG, which is also planning an IPO, has been fielding questions from potential shareholders over the Volkswagen scandal, according to people familiar with that transaction..

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