Fiat Chrysler slumps amid possible German sales ban

MILAN: Fiat Chrysler Automobiles NV slumped to a three-month low as its fight with Germany over vehicle emissions escalated after the country's most-read newspaper reported that the authorities found that the company cheated.

The Italian-American automaker said all its autos meet European rules after Bild am Sonntag newspaper reported that Germany's Federal Motor Transport Authority determined the carmaker allegedly used illegal software to manipulate emissions controls.

Fiat Chrysler dropped as much as 5.9% to 5.94 euros, the lowest intraday price since February 26, making Italy's FTSE MIB Index the day's worst performer in Europe.

A dispute between German regulators and the Italian-American carmaker came to a head on May 19, when Fiat refused to meet with German Transport Minister Alexander Dobrindt to discuss findings of an emissions probe.Under European Union rules, Italy is responsible for testing Fiat cars because the automaker's regional operations are centered in the country, a regulation that the manufacturer reiterated through a spokesman on Monday.