Car share prices including BMW, Peugeot, Daimler, Renault and Tesla are tanking in the wake of Volkswagen's emissions cheating scandal

Catherine Neilan
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Car share prices are getting smoked out (Source: Getty)

Car share prices are tanking today as investors flee the sector amid concerns the emissions scandal engulfing Volkswagen could upset other firms.

By the afternoon, firms including BMW, Daimler, Peugeot, Renault and Tata Motors were all in the red.

Volkswagen was one of the few to actually see a bounce - though given that the German conglomerate's share price has fallen more than 30 per cent since the start of the week, that's not saying much.

Fears are growing that the emissions cheating scandal could become contagious, ahead of a report expected to be published next week that could name other auto firms as using the "detect device", which enabled Volkswagen to cheat on its tests.

This is how the auto industry's share prices were at pixel time...

BMW was named today as potentially being among those with a "gap" between emissions recorded during a test and in a real world scenario.

German magazine Auto Bild today said the group that had flagged Volkswagen to US authorities - the International Council on Clean Transportation - had identified BMW's X3 xDrive 20d model as emitting 11-times the European air pollution limits during a road test.

BMW rejected these claims, saying there was no difference between emissions in a test environment and on the road.

"No specific details of the test have yet been provided and therefore we cannot explain these results," the car firm said in a statement. "We will contact the ICCT and ask for clarification of the test they carried out."
Despite numerous calls, the ICCT could not be contacted for a comment.
Even if no other firms are named, the industry could still come under growing pressure, with calls for a shake up to the way emissions are tested coming from both industry members and governments.
Peugeot Citroen, one of today's biggest auto fallers, was among those to call for tougher tests to be adopted from 2017.
“In the spirit of improving air quality, PSA supports introducing the new procedure WLTP plus RDE from September 2017 in its most demanding version, to replace the current European approval procedure NEDC, which is not representative of real customer use,” said a PSA statement.

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