Volkswagen in free fall on the Frankfurt Stock Exchange, where the stock loses 9%. The new collapse of the German car giant also drags down the shares fca, which in the same minutes lost 1% in Piazza Affari.
The umpteenth crash of the Wolfsburg house is linked to at least two new factors: first, the American authorities have also launched accusations against several high-end models with 3-liter engines, including the Porsche Cayenne (the North American division of Porche has announced the voluntary freeze on sales of the diesel Cayenne produced from 2014 to 2016); second, yesterday the group revealed that it had also found anomalies on the emissions CO2, while up until now the scandal had remained confined to nitrogen oxides (NOx).
Volkswagen has already quantified in approx 2 billion euros the additional costs of this new strand of the scandal, which should concern another 800 vehicles in addition to the 11 million already involved in Dieselgate.
But that's not all: according to Bloomberg, a further alarm bell for the German company concerns the fact that irregular emissions could also have been found on vehicles with petrol engines, while so far the issue has remained confined to diesel cars. In particular, there would be anomalies on a 1.400 liter petrol engine.
Meanwhile, theEurostoxx index of the sector marks a heavy -2%. As for sales on Fiat-Chrysler, according to the operators, are also motivated by the negative indications on the Brazilian market.
If in fact in the United States in October the market grew by 13,6% with 1,46 million vehicles sold and FCA reported an increase of 14,6% to 195 units, in Brazil the contraction of the overall market was 37% and FCA, according to Anfavea data, reported a -51% year on year. According to some analysts, the slowdown in the already significant Brazilian market could even intensify in the fourth quarter.
“FCA's registrations in Latin America fell 22% annually in the first nine months and we believe they could drop another 30% annually in the fourth quarter leading to an overall -24% in 2015 – comments an investment house -. We point out that Fiat is not participating in the price battle to the detriment of volumes and this choice is apparently working given that the operating activities in the Latin America area returned to profit in the third quarter despite the sharp drop in volumes”.
