Truck manufacturer, Volvo admits serious exhaust problems

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The Swedish Truck manufacturer Volvo has found serious problems in the exhaust gas purification of its vehicles. The company’s high costs threaten to eliminate the Problem.

The Swedish Truck makers, Volvo has given to exhaust gas problems when a part of his vehicles. A component to control the pollutant emissions could wear out faster than expected, the company said on Tuesday. Thus, the risk that allowable emissions would be exceeded. The cost to fix the problem, could be significant. The news sent the company’s shares on the Stockholm stock exchange by more than nine percent to the lowest level in a year and a half of slipping.

The error was stated that in the case of internal controls. Could the financial impact of Volvo do not make a more specific information. “We are currently in the process to determine the full extent of the problem,” said a spokeswoman. The affected Trucks were manufactured for the North American and European market. These two regions are approximately two-thirds of the deliveries were in the last year. The authorities would be informed.

The group, which manufactures Trucks and construction machinery, buses and engines, explained that the wear and tear affects all cars and engines to the same extent. At the time of delivery, all with the component-equipped vehicles complied with the emission limits. Analysts of the investment Bank Nordea to expect “substantial losses” should demand the authorities the exchange of the components in all the Trucks. Last year, Volvo delivered more than 200,000 Trucks.


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