German automakers' shares fall on diesel emissions concerns


It reportedly received a letter by VW dated July 4th, 2016, conceding that about 200 employees from the various auto makers held meetings dating back to the 1990s to discuss vehicle development, brakes and engines.

Daimler's Mercedes-Benz brand continues to promote the performance of its diesel-engine vehicles.

"Cars of the BMW Group are not being manipulated and are in line with the applicable legal requirements", BMW said in a statement.

The move follows shortly after Daimler - which is behind the Mercedez Benz vehicle brand - announced that it is to modify over 3 million of its cars sold in Europe to reduce emissions (see

According to Der Spiegel's investigation, the commission and German authorities had been informed in July 2016 of secret meetings between the five auto companies dating back to the 1990s.

It also said the carmakers did not wish to "speculate" on the magazine's findings, although BMW later publicly said that it flat-out denies the allegations.

This revelation came as a part of the German authorities investigations on Volkswagen. It goes all the way back to 2006, when automakers talked about the cost of AdBlue, an exhaust emissions treatment systems they'd been placing in diesel engines.

Audi has today announced a voluntary recall of 850,000 cars powered by its V6 and V8 diesel engines acros Europe and other markets. Volkswagen has admitted that its vehicles were programmed to ration doses of AdBlue, leading to excess emissions.

Last week, German newspaper Spiegel cited documents submitted by VW and another by Daimler, purportedly revealing that Volkswagen, Daimler and BMW are being investigated by Germany's Federal Cartel Office on suspected antitrust collusion over decades on technology relating to exhaust gas measures on diesel vehicles. The cost of the rescue plan amounts to under 2 billion ($2.33 billion) euros for cars in Germany, with the auto industry agreeing to shoulder the expense of about 100 euros per vehicle.

Instead of installing bigger tanks, VW and Audi illegally programmed cars to ration the chemical solution - and produce excess emissions - except when engine software detected that an official test was underway. The software updates would mean the diesel cars can cut their nitrogen oxide emissions by about 20 percent, industry and government sources told Reuters on Friday. "Of course this also applies to diesel vehicles". Volkswagen has agreed to spend some $25 billion in the address claims that it had cheated emissions tests.