German automakers' shares fall on diesel emissions concerns

FRANKFURT, Germany (AP) - The German auto industry's troubles over excessive diesel emissions are looming larger.

Shares in the three biggest German automakers fell Monday after a newsmagazine report claimed they had colluded for years over diesel technology.

BMW was off 2.3 percent, Daimler 3.4 percent and Volkswagen 2.5 percent. Shares also fell Friday after Der Spiegel published its findings online.

Spiegel reported that company employees from Volkswagen, Audi, BMW, Mercedes and Porsche had met often since the 1990s and had agreed to limit the size of the tanks holding a urea solution used to reduce diesel emissions.

BMW issued a statement denying that its urea tanks were too small to provide adequate exhaust treatment and said its vehicles' emissions met legal requirements.