Renault faces a criminal probe in France after the country’s consumer fraud agency passed a file to prosecutors detailing suspicions its engines had broken emissions laws, the government said, sending the carmaker’s shares lower on Thursday Nov 17,2016
The industry ministry said late on Wednesday Nov 16,2016 the DGCCRF consumer fraud agency had sent prosecutors the findings of its inquiry into possible emissions test manipulations by Renault, opened in the wake of Volkswagen’s diesel emissions scandal.
“It is now up to the courts to determine what further action to take over the suspected breaches,” the government said in a statement. Officials at the prosecutor’s office in Nanterre, west of Paris, were not available for comment.
Renault shares fell as much as 4.6% before recovering to 73.75 euros at 1100 GMT, still 2.2%below their closing price on Wednesday Nov 16,2016, before the announcement.
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