Fiat Chrysler shares slide on US emissions probe

Fiat Chrysler said in a statement on Thursday that it is “disappointed” with the Environmental Protection Agency assertions.

Shares in Fiat Chrysler dropped as much as 18% as the US Environmental Protection Agency accused Fiat Chrysler of using software that allowed excess diesel emissions in 104,000 US trucks and SUVs sold since 2014, the result of a probe that stemmed from regulators’ investigation of rival Volkswagen.

The EPA and California Air Resources Board told the automaker it believes its undeclared auxiliary emissions control software allowed vehicles to generate excess pollution in violation of the law.