German auto stock prices showed a mixed reaction to Chancellor Angela Merkel’s election campaign criticism of the industry’s diesel shenanigans and the betrayal of trust it represented by its leaders. The industry is also under pressure because of a cartel investigation, while VW’s protected political status is under attack. Merkel’s main opposition, the left of centre Social Democratic Party (SPD), also joined in the criticism of the auto industry. Earlier this year Merkel withdrew an ambitious but failing ambition to have 1 million electric cars on German roads by 2020. According to Reuters, the Emnid poll for Sunday’s Bild am Sonntag weekly newspaper showed support for Merkel’s conservative coalition at 38% and the SPD at 24%.

Source: Forbes August 14, 2017 10:07 UTC