Renault’s office raided over VW-like diesel scandal; shares plummet

Renault saw what is said to be its worst day of trading in the last 20 years (since 1994), with share values dropping by as much as 22 per cent. The French carmaker’s sites (in France) were reported to be raided by anti-fraud officials.

Renault Duster Terranger 2

A union official mentioned that “there were searches at several Renault sites…”. Renault has released a statement saying that the investigators haven’t found any defeat device (used for flouting emission tests etc.) in Renault vehicles.

The union, meanwhile, has mentioned that the raids could be a result of the recent diesel scandal by Volkswagen, in which the German manufacturer was caught cheating its customers and the environment.

Renault diesel

Source: Reuters

Note: The photographs above are for representative purposes only.