French carmaker PSA 'faces fines of 5bln-euros for emissions cheating'

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French daily Le Monde, citing a report by France's competition and consumer affairs anti-fraud agency DGCCRF, said carmaker PSA, owner of Peugeot and Citroën, has been found to have equipped its diesel engines on up to 1.9 million vehicles with so-called defeat devices that would reduce the level of nitrogen oxide emissions during testing.

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Shares in French carmaker PSA Group fell sharply Friday after a report said as many as 1.9 million Peugeot and Citroen cars may have engines designed to trick diesel emissions tests, reports ABC News.

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