News Details
Fiat shares plunge on 'cheat' allegations
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On the surface, it doesn't seem related to Formula 1 or Ferrari, but the latter's former parent company, Fiat Chrysler Automobiles, has just been accused by a US regulator of using illegal software to potentially cheat pollution tests. As a result of the allegations, Fiat Chrysler shares quoted in New York and Milan lost over 15% of their value at one point before recovering slightly in the afternoon. But it may not be a Volkswagen crisis all over again for Fiat as CEO and Ferrari President Sergio Marchionne has strongly denied the allegations formulated by the EPA (Environmental Protection Agency). "I'm really pissed off," an angry Marchionne said at a hastily-assembled press...
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