Fiat Chrysler’s shares went down after dishing meeting with Germany

May 23, 2016 07:47 AM EDT | Robert Garcia


Automobile manufacturer Fiat Chrysler has their shares went down to rubble after a German transport minister released a statement regarding the company. The Germany's transport minister was not happy over the Fiat Chrysler's ditching of the meeting that is set to focus on emissions.

According to Reuters, on Thursday, Fiat Chrysler was already set to attend the meeting scheduled in Germany regarding the possibilities of irregular emission reports on their diesel vehicles. However, the company gave a lawyer's letter saying that the meeting be rescheduled.

The Transport Minister Alexander Dobrindt didn't see this as anything other than their showcase of negative treatment saying that this was "uncooperative behavior" and "completely incomprehensible."

Yahoo published that Fiat Chrysler is now known as among the automaker companies being probed as there are questionable calls on their car emission levels. Meanwhile, players of the stock market said that this issue would have an impact to indicate more pressure to the stocks of the company and will only get back to normal once the company release a statement of clarification regarding the incident.

However, in light of these, Italian Transport Minister Graziano Delrio asked the German's Dobrindt to make amenabilities to be connected with the Italian car regulators and should be focusing on making meetings with the company directly. He added that he has sent a letter to Dobrindt indicating that both Italy and German Transport Ministers should work together in getting more information regarding Fiat vehicle emissions.

Further, Delrio also revealed that the Fiat Chrysler will be giving its full undivided support for the meeting and is ready to send the requested information of their emission strategy to the authority handling the case.

Prior to this incident, Fiat Chrysler already released statements that ensure their emission standards have passed the European Union standards. The company's shared shook down atleast 1.8 percent even the European area sector was stable.

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