Allegations of industry collusion between Germany's car manufacturing industry is not likely to spill over into a major global legal threat, Arndt Ellinghorst, head of global automotive research at Evercore ISI, told CNBC on Tuesday.
German news magazine, Der Spiegel, reported Friday that Volkswagen, Audi, BMW, Porsche and Daimler may have been engaged in an illegal cooperation. The major German carmakers are accused of using industry committee meetings to agree on costs, suppliers, technologies and even the prices of diesel emission treatment systems.
"This is potentially being dragged into the U.S. because some of the accounts were sold to American customers and also the Chinese as they were exported … But I still don't see a major global legal threat here," Ellinghorst said.
U.S. department officials are believed to be looking into allegations of industry collusion between major German carmakers, according to a Bloomberg report which cites an unnamed source. However, there has been no indication that the Justice Department is poised to open a formal investigation.
BMW rejected reports of emissions collusion while other carmakers have reportedly refused to comment on the claims.
Volkswagen said it would hold a special supervisory board meeting on Wednesday in order to discuss allegations of industry collusion, a source confirmed to CNBC via email.