BMW Stocks Drop Amid Claims of High Diesel Engine Emissions

© Flickr / L.C. NøttaasenA BMW car
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German car-maker BMW saw its stock drop almost seven percent on Thursday, according to Frankfurt markets, after German media claimed its new diesel engine exceeded the EU-allowed emission limit.

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MOSCOW (Sputnik) — BMW was dragged into the spotlight a day after Volkswagen chief executive Martin Winterkorn announced his resignation following the company's confession of cheating on emission tests.

"All measurements suggest this is not just VW’s problem," Peter Mock, of the International Council on Clean Transportation [ICCT], told Auto Bild on Thursday.

The German outlet cited an ICCT research that found BMW X3 xDrive 20d emitted less greenhouse gas in testing than when driven on the street. Routine use measurements showed the diesel engine's emission levels exceeding Euro 6 emission standards by a factor of 11.

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A BMW spokesperson denied that the company installed software in their cars to differentiate between street and test conditions.

VW said earlier it withdrew almost 500,000 cars from the US market and pledged to set aside some $8 billion to offset projected legal fees, court fines, and the rebuilding of its brand.

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