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Renault’s Stock Skids on Worries about Emission Probe
Shares in Renault SA closed on Friday at €75.13, down 15% in the past two days over worries that some of its vehicles may not meet emissions standards.
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Shares in Renault SA closed on Friday at €75.13, down 15% in the past two days over worries that some of the company’s vehicles may not meet emissions standards.
Investors were not soothed by government insistence that a probe into gaps between lab and real-world emission results for vehicles made by Renault and others is not related to Volkswagen AG’s diesel emission scandal.
VW’s crisis involves devices built specifically to trick emission tests. Investigators and government ministers say there is no evidence that any Renault vehicles were rigged to evade emission limits. The company says its vehicles contain no so-called defeat devices.
Environmental activists say the government’s investigation highlights a weakness in European test procedures. Critics have complained for years about large gaps between emissions measured during laboratory certification tests and those found during on-the-road evaluations. The same issue produces official fuel economy ratings that can run 40% higher than owners reports.
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