French Prosecutor Opens Preliminary Probe Into PSA Emissions
- Investigation opened April 7 into potential emissions fraud
- Maker of Peugeot cars reiterates that its vehicles comply
The Peugeot lion badge sits on the front grill of a Peugeot Quartz concept automobile inside the PSA Peugeot Citroen automobile showroom on the Avenue des Champs-Elysee in Paris, France, on Wednesday, July 29, 2015. Renault SA shares fell the most in almost four years after its first-half profit gain failed to keep pace with fellow French carmaker Peugeot.
Photographer: Jasper Juinen/BloombergFrench prosecutors started a preliminary investigation of alleged fraud at PSA Group, the latest car manufacturer to be targeted over potential violations of emissions rules in the aftermath of Volkswagen AG’s diesel-cheating scandal. The stock fell the most in two months.
The Paris prosecutor’s office opened the probe on April 7 after receiving a report from the French Economic Ministry’s fraud division, a spokeswoman for the prosecutor said Monday by phone. The fraud would have made the cars dangerous to human health, she said. Three judges are assigned to lead the investigation. Paris-based PSA, the maker of Peugeot, Citroen and DS cars, reiterated that it complies with all regulations.