Munich-based BMW denied any collusion with competitors on Sunday, adding that none of its vehicles had been manipulated to meet diesel emissions norms. But carmakers agreed not to add large reserves of the additive to their vehicles, Spiegel reported, preferring to save space for customers' golf bags or profitable upgrades such as speaker systems. The reports have also spooked investors, with car industry stalwarts trailing on the DAX index of blue-chip German shares Monday. "In the context of the diesel scandal, forbidden agreements are a kind of total meltdown for the credibility of the German car industry," said Professor Stefan Bratzel of the Center of Automotive Management, which is located outside the western German city of Cologne. In the political arena, lawmakers are gearing up for an election in late September and cannot leave the car industry theme untouched.

Source: The Local July 24, 2017 11:48 UTC