FIRST AIRED: January 13, 2017

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Transcript

00:00:01
>> The day after Volkswagen settled its diesel emissions case with US regulators, the EPA on Thursday accusing Fiat Chrysler of using software that illegally alters the true amount of pollution its vehicles emit. Reuters autos industry correspondent David Shepardson has been covering the investigation.>> The EPA is alleging that about 100,000 Fiat Chrysler trucks and SUVs sold in the US since 2014 have had software, not disclosed to regulators, that allow the vehicles to turn off or lower the emissions equipment at various times on the road.
00:00:35
As a result of that hidden software, these vehicles emitted too much pollution and therefore violated the law.>> Within an hour of the announcement, Fiat Chrysler CEO angrily rejected the allegations in a conference call with reporters, saying quote, I'm really pissed off. He then went on CNBC to assert that his company was fundamentally different from VW.
00:00:56
>> Sergio Marchionne has made it clear he is not going to accept these findings. He's gonna fight, and hopes to get a better review from the Trump administration. And frankly, given how harsh the Obama administration has been, we don't know how Trump's EPA is going to respond. We do know it's gonna take them a long time to get all these officials confirmed to the Senate, so it's gonna be a long rough ride for Fiat Chrysler.
00:01:21
And the government clearly is looking to see if there was cheating and this is only just the first step in a long investigation. US listed shares of Fiat Chrysler took a nosedive after the EPA's announcement until they were temporarily halted. The stock finished the day down more than 10%.